Client situation.
A broker approached us on behalf of a client who was looking for a quick refinance of an existing private loan secured against a 4-bedroom detached house. The client’s goal was to transition to a traditional mortgage, but they did not have time to obtain this, making this an ideal situation for bridging finance. Private loan arrangements can become restrictive over time, offer no guarantees of extensions, and can leave clients in need of a stepping stone to more conventional financing while they organize their longer-term arrangements.
Our solution.
We structured a £270,000 facility at 60% LTV, providing the refinancing solution needed while the client arranged their longer-term traditional mortgage. Their clear exit strategy made this a low-risk deal that we could move fast on. We understood this was interim financing, which allowed us to structure terms that gave the client the time and flexibility they needed without unnecessary complications.
Result.
Five days to completion provided immediate relief from the existing private loan, giving the client time and flexibility to secure optimal traditional mortgage terms. The agreed loan term would give them a healthy opportunity to shop around for the best long-term mortgage deal without the pressure of their existing loan arrangement. This deal is a perfect example of how bridge lending can provide breathing room and better outcomes for borrowers.
Bridge to traditional finance? We make the transition smooth and stress-free.