A client had an initial enquiry for bridging finance. The client is resident in Bermuda and bought a property in 2018 in Suffolk. The client was prepared to spend about £850,000 for the developments on the property which has been valued at £1,000,000.
The property is unencumbered. He wanted to raise £300,000.00 net via bridging finance as he needs the funds quickly to complete the final stage of works.
Contact us today to discuss Bridging Loans and how we can assist you.
After further discussion with the client, we discovered that the client had other commercial properties which could alleviate any concerns for the lenders of it being a regulated bridging finance.
This suited the client’s needs as the exit strategy is an Expat BTL mortgage, which would be sourced through us as well as. This will give him a peace of mind that all his property needs will be dealt under the same roof.
Note: Current Max LTVs for Bridging Finance for 1st charge bridges are 75% but lower for 2nd charge bridges, typically 60%.
To know more and speak to one of our Bridging Finance Experts, call us now on 03303 112 646. You can also fill in this short online form to get started. Our team of Bridging Loan Experts will get back to you straight away.
Discover our Mortgage Broker services.