For our latest case study, a High Net Worth client in need of close to £3 million while in between facilities, contacted us for help.
The property in question was a multimillion-pound, prime single unit in London. Unfortunately, not flavour of the month for property types!
The clients were keen to arrange long term finance with a private bank. However, their existing term has already expired and were in need of a quick solution to ensure they would not lose their property.
In situations such as this, a bridging loan is often a good solution as it can provide fast finance for a short duration to help bridge the gap between different facilities. Experienced brokers Guy, Julian and Matt knew this and pulled together using their individual lending relationships to secure bridging finance for nearly £3 million in record time with Masthaven – just 5 weeks from application to funding!
Bridging loans can also be a good solution if clients are let down during purchase. Take a look at our other case studies to find out more.