Bridging loan to repay arrears

THE SCENARIO

OUR SOLUTION He therefore needed finance to bridge the gap between now and the sale of his buy to let property. Short term funding solutions such as bridging loans can often be helpful in these scenarios. My client’s background issues made it difficult for him to find a lender; fortunately, I have a close working relationship with a lender who has a flexible and open attitude to unusual cases, providing they can see a solid exit strategy. As it was clear my client would be able to sell his property as an exit strategy, I was able to arrange a second charge bridging loan facility for £270,000 at a rate of 0.95%. This enabled my client to repay his outstanding debts, covering him for the period he needed.]]>