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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.
Requirement:
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.
Facility:
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.
Julian is one of the mortgage industry’s true legends, following his passion through thick and thin to run our highly successful Specialist Finance division. Having always had an interest in property and initially part qualifying as an Architect, Julian decided to join the Financial Services industry in 1989, cutting his teeth at John Charcol in the early 1990’s. After opening their Guildford Office, Julian left to spend time assisting High Net Worth individuals with tax efficient investment schemes. In 2000 he jointly founded the boutique Mortgage Brokerage Cobalt Capital. As the managing partner of Cobalt Capital and at the centre of its growth, the company expanded to a peak of 90 staff and developed into one of the leading mortgage brokerages in London. With more than a growing interest in the specialist and commercial sectors of the mortgage market and a determination to obtain finance on the seemingly impossible, Julian decided to follow his passion and invest into Coreco, becoming a Director in 2010. His aim is to drive this business forward to become one of the strongest specialist finance teams in the industry, focusing on large residential loans for development/investment purposes and large property portfolios. Julian is also a proud member of the FIBA Executive Committee.
Read more posts by Julian
DNA
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