Client:

We were approached by a client in need of fast bridging finance, secured against their assets.

Requirement:

Julian Ingall, Director of Coreco Commercial Finance and broker himself, was approached by the client looking to raise enough funds to pay fees surrounding a difficult personal circumstance. What made raising this finance difficult was the client’s direct access to funds; they had no access to portfolio income, no wealth readily available, adverse credit and a down valuation on their property. However, they had income that could be drawn upon.

Facility:

Julian was able to successfully place the case with TAB, a provider of short-term bridging finance, with their Sales Director Nick Russell working tirelessly to overcome the complications within this deal. Priding themselves on clear, black and white lending, they took a common sense approach to this case and were understanding in the client’s situation. As a result, a 65% LTV was agreed on a ‘unilateral notice’ basis due to the client’s time constraints, and the finance was secured on the only available investment property out of the client’s portfolio.