Bridge Finance Solution To Secure A Property In Need Of Major Renovation

Fast & Trouble Shooting Bridging Loan To Secure New Home In Need Of Renovation

Area
London
Capital Raised
£230k

What do you do when your mortgage application on a new property is declined at the last minute due to the level of renovation required, there is pressure to complete, and you may lose out on the home you’ve set your heart on?

Bridging finance can often facilitate a solution when a property is deemed unmortgageable. Our client proceeded with the purchase giving them time to renovate the new property before taking out a standard mortgage.

The Scenario

Our clients had found a smallholding farm property that they planned to renovate and make their home and a place to work from. They came to us after their mortgage application was refused at the last minute, in light of a surveyor’s report, which drew attention to the scale of renovation required for the new property, which was more than the lender felt comfortable with.

The critical issue was our client's pressure from the seller, who was in a hurry to complete. Finding a new and more favourable lender would be possible, but starting a new product application from scratch would take the time they didn’t have. And in all probability, a second professional survey would be required, which might throw up the same issues.

Our client needed a quick financial solution so they did not waste further time and resources and lose out on the property.

The Solution

After discussions with our client, we were able to present them with the option to raise a second charge loan secured on their current property valued at £800,000. This would take the form of a bridging loan with no early repayment charges from a lender whom we had considerable experience with and were in a solid position to get the case through on time.

The only valuation needed now was on the client’s current residential property, which was excellent. The short term bridge finance would give them the ability to renovate the new property before moving in. The bridging loan would then be refinanced on their current property as a buy to let once they had moved out. 

Through proactive communication between all parties on behalf of our client, we quickly facilitated the finance so that the purchase could go ahead and our client’s plans came to fruition.

 

 

Max Mallinson

Finance Broker CeMAP

Cardiff

0117 332 5977

Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.

Book a free telephone consultation with me at a time to suit you.

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Jonathan Moffatt

Head of Business Finance

Cardiff

0203 880 8890

Do you need help sourcing your own business finance?

I have extensive experience securing finance for a wide range of businesses. Book a free telephone consultation with me at a time to suit you. 

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Alex Morris

Private Client Adviser

Bristol

0117 332 5061

Do you need help sourcing your own property finance?

I have extensive experience securing UK mortgages for clients. Book a free telephone consultation with me at a time to suit you.

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Scott Dutfield

Finance Broker

Cardiff

0117 959 5094

Are you looking for a similar type of property finance?

As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you

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Carly Cheeseman

Head of International

Bristol

0117 457 9922

Do you need help sourcing your own property finance?

I have extensive experience securing UK mortgages for clients. Book a free telephone consultation with me at a time to suit you.

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Nick Kerley

Finance Broker

Cardiff

0117 959 5094

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As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you.

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Louis Levine

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Bristol

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Sam Baker

Finance Broker

Cardiff

0117 959 5094

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As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you.

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Fergus Allen

Senior Finance Broker

Cardiff

0117 959 5094

Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.

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Jacob Phipps

Finance Broker

Bristol

(+44) 0117 959 5094

Are you looking for a similar type of property finance?

I specialize in helping international clients source residential and investment property finance for UK property. Book a free telephone consultation with me at a time to suit you.

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Jack Spillane

Finance Broker

Bristol

0117 959 5094

Is your situation similar to this? I specialise in helping clients who need creative development finance solutions, and second-charge mortgages. Give me a call any time and we can set up a detailed discussion of the finance you need. customDatabaseField-8455

Mathew Phillips

Senior Finance Broker

Bristol

0117 959 5094

Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.

Book a free telephone consultation with me at a time to suit you.

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Alex Chambers

Senior Private Client Adviser

Bristol

0117 403 4324

Are you in a similar situation? I am a specialist in residential and investment property finance for UK and international clients at Clifton Private Finance. Please don't hesitate to get in touch for a no-cost discussion of the finance you need.

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Luther Yeates

Senior Finance Broker

Bristol

0117 244 5561

Are you looking for a similar type of property finance?

I have extensive experience finding residential and investment property finance for UK and international clients. Book a free telephone consultation with me at a time to suit you.

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Sam ONeill

Senior Finance Broker

Bristol

0117 959 5094

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I am a bridging finance specialist at Clifton Private Finance. I can find a quick, cost-effective solution for the funding you're looking for. Book a free telephone consultation with me at a time to suit you.

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