Client situation.
A client was introduced to us in need of a straightforward but time-sensitive bridging loan. They needed funds for the purchase of a newly built 6-bedroom detached house. Despite the apparently simple structure, the client needed absolute certainty of completion within a tight timeframe. New build purchases often come with their own complications. Things like snagging issues and warranty concerns for the client, and the challenges of getting an appropriate valuation for the lender, making them a unique kind of deal to work on.
Our solution.
We structured a £552,000 facility at 61% LTV, focusing on the quality of the new build security. Our streamlined approach means that straightforward deals can be completed quickly, and that was the case here as progress was quick. Our valuation partners assessed the property and understood the market in the area, and we focused on the property and borrower, ultimately providing the certainty the client needed without unnecessary delays or complications.
Result.
Six days to completion demonstrated that even simple deals benefit from our rapid, reliable approach. The client secured their new build purchase with complete confidence, and the broker could deliver exceptional service to their client. This case proves that speed doesn’t have to come at the cost of thoroughness – we can move fast while maintaining our rigorous assessment standards.
New builds need specialists who understand their unique characteristics – that’s us.