3.5 million Re-Bridge with UK Property Finance
The client we were working with was a successful property investor, primarily based in the London area. We originally secured a 12-month bridging solution on his behalf that was used to finance the acquisition of a large office block building situated in the Midlands. In order to gain access to the best available rates, our client provided an additional £3,000,000 in security for the loan, using a number of highly desirable residential properties that he owned in the city.
With just 3 months remaining from the initial 12-month borrowing period, we made our standard courtesy call to see how things were moving along. Unfortunately, the original exit plan had fallen through at the last minute, and our client was now in urgent need of a reliable refinancing option while being face-to-face with a new set of problems.
Although his track record and previous financial history were exemplary, our client was now over 70 years old and beyond the age threshold that many lenders use as a part of their application criteria.
As leading bridging loan experts with close working relationships with an extensive panel of private investors, we knew exactly who to approach in order to solve the unfortunate dilemma, and within a matter of hours, we managed to provide a new loan worth £3,500,000, which gave our client an additional 12 months to repay the debt. Needless to say, our client was delighted with the new terms, and everything was back on track with the minimum of stress and complications.
UK Property Finance has a long-standing relationship with many property investors and excellent customer feedback from our clients as a whole. We pride ourselves on only offering the very best levels of service, and we achieve this through the commitment of our staff and the high standards of lenders with whom we choose to work.
UK Property Finance is a “whole of market,” directly FCA-authorised and regulated, master finance broker specialising in bridging loans, development finance, and commercial finance. Our “Whole of Market” broker status enables us to source bridging loans and development loans from any lender in the market, enabling us to provide the very best rates.