£113,000 Bridging Loan Completed in 9 Working Days

A broker approached us on behalf of their client, a buy to let property owner who was looking to raise funds by refinancing an unencumbered property. The client wanted to use the capital to carry out light refurbishments and internal upgrades to the rental property as well as complete improvement works on their main residence. With a need to access funds quickly, speed and flexibility were key,

We came across an early hurdle when the client’s initial refinance was delayed due to a valuation highlighting damp and mould within the property. Given the time sensitive nature of the works, a bridging loan proved a suitable option. As this was a refinance of an unencumbered buy to let property, there was a strong asset position but the challenge lay in delivering funds quickly despite previous valuation complications.

We acted quickly to keep the case moving, utilising an AVM to speed up the valuation process and avoid unnecessary delays. From initial enquiry to completion, the case was turned around in just 9 working days! This demonstrates the speed and efficiency that bridging finance can offer when it matters most. The client was able to access the funds needed to address the property issues and carry out planned improvements. The exit strategy is to either sell the property, or refinance onto a buy to let mortgage at the end of the 12-month term.