Case Studies

Private Individuals

A hefty deposit saved at the last minute

During a land deal the buyer was let down by the bank at the last minute with a fast approaching completion deadline. The customer had a growing concern that he was going to lose not only the site, but also a substantial deposit of £150,000. We stepped in at the last minute with only three days to go before completion. We completed the deal by the required deadline, with the customer borrowing £332,000 secured by way of first charge over the property being purchased.

100% behind a great investment

One customer wanted to buy a property for £100,000 but didn't have any cash available so needed 100% of the purchase price. We were able to help by taking out a first charge over the property. We knew the customer had a good deal because the property was valued at £150,000 and we advanced against the value not the purchase price.

A hard-earned deposit, saved at the last minute

A young couple were moving house. On exchange on their purchase property, they paid a £20,000 deposit. The sale on their home should have gone through on the same day, giving them sufficient funds to complete the transaction. Their buyers pulled out the week of completion, which meant our clients would lose the £20,000 deposit. We were approached early on the Tuesday morning to provide a fast bridging loan. Our lawyers were instructed that day, we agreed to take a first charge on the property they were buying, and a second charge over the property they were selling. We completed the transaction by 3pm on the Thursday.

Going, going, gone!

A solicitor had seen a property in an auction catalogue and wanted to buy it as an investment. It needed some work but in advance of the auction he needed to know how much he could afford to bid. We arranged a flexible bridging finance facility taking a second charge on his existing property to provide him with the deposit required at the auction. Prior to the auction we also made enquiries regarding the property he wished to purchase and provided him with a credit limit to bid with. Our client was successful at the auction and in the 14 days that the client had to complete, we arranged a flexible high-speed bridging facility to meet the cost of both the purchase and improvement works.

When the tax man cometh

A self-employed businesswoman panicked when she received a tax demand for £50,000, a figure that couldn't be raised in the given time-scale. Asking her mortgage provider for a further advance would have taken far too long. We secured a second charge on her business premises within 48 hours and the tax bill was paid off, panic over.

Location, location, location

This is a growing area where clients are taking advantage of emerging markets and affordable property prices, particularly for pension investments or holiday homes. These markets are dynamic and completions need to be quick. Many overseas properties are new developments and are purchased through stage payments, a situation which lends itself perfectly to bridging finance as short timescales are usually given. We often finance overseas property transactions by securing on properties in the UK, whether by first or second charge.

FINANCIAL INTERMEDIARIES CASE STUDIES
PROPERTY DEVELOPERS CASE STUDIES