CHALLENGE Our team of experts were faced with a client that had been given 12 days (equated to 7 working days for F4B) to complete an auction purchase of a flat. The client was looking to acquire the property to expand their growing portfolio. The challenge the Finance 4 Business team faced was identifying a lender that could complete underwriting, full legals and a valuation in the 7 day time frame whilst funding 75% of the market value.
SOLUTION We got to work, with the first objective of ensuring the underwriting was all completed on the day of enquiry. We also made sure on the same day that the legals and valuation were instructed successfully. After reviewing our panel we sourced a lender that was geared for this type of product and could ensure the funding went through in the desired timeframe.
RESULT This was a challenging deal due to the tight timeframe but we delivered the result. The funds were requested a day before completion was required and the client completed the purchase matching their deadline. The client was delighted with the outcome and expressed some kind words regarding their experience using the service provided by Finance 4 Business.
The service Ed provided was exemplary. He gave good advice preceding the auction which he then actioned immediately following the purchase. He followed up with solicitors to ensure the process was completed within the 12 day turnaround.
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