Bridging loan for development project

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THE SCENARIO

OUR SOLUTION Fortunately, she managed to obtain a new warranty—my client therefore needed a bridging loan for development to finish the work and forward finance the next project. As mentioned, I used a bridging lender who we work with frequently. They are particularly efficient; the valuation report was booked and returned within a week, and in my opinion they are one of the quickest bridging lenders in the market. This was ideal as my client needed a quick turnaround. This lender was able to match the loan to value (LTV) required, with a great rate. The final product was a loan of £174,000 at a rate of 0.89%, retained for a period of 12 months. This was a great result, and I look forward to working with both this client and this lender again in the future.]]>