We help individuals complete their property projects by providing timely funding solutions. Whether you have been let down by the bank, are facing pressure to meet a payment deadline, want to kickstart your self-build dreams, or you simply need finance quickly to ensure your property venture runs smoothly, we can help.
Our development finance and residential bridging loans have helped many customers to complete build projects and property purchases.
Read the following case studies to find out more about how we have helped numerous individuals in various scenarios.
Helping to save a property purchase
A customer came to us looking to purchase a property in the South of France, only to have the sale of his residential UK property fall through. With finance from our bridging loan, he was quickly able to complete the purchase of his new French property; this also gave him more time and the financial flexibility to find another buyer for his UK property. Read more…
Rescuing a buy-to-let mortgage complication
A customer approached us to save her purchase of a Central London flat, after a mistake caused her buy-to-let mortgage to fall through. With a tight timescale of a week to complete the purchase, our speedy funding solution came to the rescue, ensuring that the transaction went ahead and that the client did not lose the large deposit she had already put down. Read more…
Supporting the completion of a property build
A first-time developer approached us for financial help in order to complete his self-build project. He lacked the necessary funding to build his dream home – a two-bed detached property in the West Midlands – from scratch. By arranging a development loan, we were able to help the client overcome the obstacles in his way, leading to a smoother and quicker completion. Read more…
Other Case Studies
A hefty deposit saved at the last minute
During a transaction the customer 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 property, 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.
Creating value from your existing garden and building the house you always wanted
A customer owned a house with a relatively large garden. The customer obtained planning permission to build another house in his garden. We assisted the customer with splitting title to the property, paying off the amount required by his mortgage company to release the garden land and staged funding to build the new house. Once the new house was built the customer sold his existing house (which paid our loan off and the balance of the loan to the mortgage company) and then moved into the new house mortgage free!
A hard-earned deposit saved at the last minute
A young couple were moving house. On exchange of their purchase property, they paid a £20,000 deposit. The sale of 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 customers 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 an 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 customer was successful at the auction and in the 14 days that the customer had to complete, we arranged a flexible high-speed bridging facility to meet the cost of both the purchase and improvement works which were required.
When the tax man cometh
A self-employed businesswoman panicked when she received a tax demand for £50,000, a figure that could not 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.
This is an area where customers are taking advantage of emerging markets and affordable property prices, particularly for pension investments or holiday homes. 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 finance overseas property transactions by securing on properties in the UK, whether by first or second charge.