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