Specialist Mortgages | Posted May 1, 2018

Bridging Loans don’t have to be “Taxing”

As a business we are committed to providing a flexible and personal approach to ensure we always achieve the best outcome for your clients. A recent example of this was when one of our preferred partners referred a client to us who needed to raise £345,000 to repay a Bridging Loan secured on their residential home. The client worked closely with our Commercial Mortgage Team and in particular our Senior Adviser Stuart Cullum-Machin.

The original Bridging loan was used to settle a tax bill. Sadly, the original bridging company were not being sensitive to the clients situation and were demanding payment, so speed was of the essence. As the original debt was for business purposes the new loan was classed as ‘Business Exempt’ meaning the transaction would be unregulated, speeding up the process.

We needed to entrust a lender that would complete in the shortest time frame whilst still offering a competitive product and excellent service. By supporting the client throughout the process, we were able to have all the forms signed and valuation received within 10 days.

Due to a tri party commitment to work quickly between the client, Finance 4 Business and the lender, we were able to complete and issue funds within a total of 14 days. The result was the customer avoided default charges on their bridging debt and the immediate risk of them losing their property was removed.

If you haven’t used Finance 4 Business before or have received less than satisfactory service elsewhere, we’d be delighted to welcome you as one of our valued introducing partners.

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