Bridging Loan Secured for an Auction Purchase

Our broker reached out to us for assistance with a client purchasing a property at auction. With one mortgage plan falling through due to the seller’s short ownership period and an over run auction deadline, the client was looking for a solution and fast.

To purchase the property, the client needed to raise additional funds. As the auction deadline had passed, the client was being charged every day the purchase wasn’t complete. It was our responsibility to secure a loan in a hurry.

Within 2 hours of receiving the case, our team of experts had secured a lender offering a bridging loan of the full amount required, whilst offering the most favourable terms. Acting on this quickly, meant the client was able to complete the purchase by the deadline and both the client and broker were overjoyed with our service.