Starting the Week with a Successful Bridging Finance Facility Completion

Bridging finance brokerage is always an exhilarating experience that demands a strategic risk awareness approach to both mapping and executing the process.

A few days ago, a friend reached out to me regarding an auction purchase that was like 24 hours away from its completion deadline. The vendor's solicitors were in the process of issuing a notice to complete, requiring the buyer to finalise the deal within the seven days contractually agreed time or risk losing the 10% deposit on a property being purchased for just over ￡350K.

We were enlisted to facilitate the bridging finance brokerage. While this case was already challenging, it had complexities that typically deterred even the most seasoned bridging finance lenders.

After discussions with several lenders, we decided to proceed with an unconventional lender I genuinely respect for their honesty. I had worked with the Director of this lending firm before and his words, "this is the kind of case I believe we can handle" were music to my ears!

Within five hours of that call, facility letters were issued, solicitors were racing to beat the deadline, and the need for a valuation was waived. Fortunately, the buyer's solicitors were on standby.

Case details:

• Property Type: Commercial property
• Tenure: Freehold
• Facility Term: 12 Months
• Interest Rate: 1.69%
• Fully serviced with no retained interest
• LTV: Approximately 50%
• Property Location: Kent

We as a firm believe that if we can't broker the deal through to financing, no one can!

What obstacles are preventing your case from being financed?

• Adverse credit?
• Property type?
• Loan-to-value ratio?
• Experience?
• All of the above, or simply unsure where to begin?

Reach out to us with your bridging finance inquiries!

William PW Omony MBA is a Property Investment Strategist, Property Finance and Mortgage Consultant #LinkedInInsiderUK at Proactive Consult.

Kindly note that the information shared in this blog is for general purposes and is not personalised advice. It is strongly advised that you seek professional guidance or advice before making decisions based on the content of this publication or other materials on our platforms.