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by Peter Davies on 12th November 2020



Our client had been let down when the Buy to Let lender who had agreed a mortgage noted the property was being purchase under market value and was then unable to fund the purchase. They turned to Coreco Commercial for help.


As a knock-on effect from the property being under market value, the Buy-to-Let provider withdrew their offer shortly before contracts were due to be exchanged.

Our adviser Peter Davies knew that the only way to progress this sale was to secure the property with a first charge bridging loan which can then be refinanced to a standard lender post-completion.


As an experienced broker with longstanding lender relationships, Peter was able to approach MT Finance, a specialist lender, who agreed to finance the purchase. Terms were received from MTF in record time of 24hrs from submitting the enquiry, and the team didn’t stop there – they pulled out all the stops to complete this case efficiently for the client, despite the hiccups throughout the legal process.

Once with solicitors, it transpired that the vendor was actually two companies, not just one as was expected. This, along with under value indemnity insurance being required added delays, however this was never pushed to the back of the queue – between Peter and MTF, they worked around the clock to get this to complete before their deadline.

The sale was able to progress and the happy clients are now in possession of their new Buy-to-Let property.


Peter Davies


Written by Peter Davies


Starting his career in property and finance with Connells Estate Agents more years ago than he cares to remember, Peter was first employed as a sales negotiator before moving across into the Financial Services arm as a mortgage adviser. During this time he studied for, and passed, all three elements that make up the FPC qualification and in addition gained the CeMAP qualification. After 5 years with Connells he joined John Charcol in 2002. Based in the Canary Wharf office he remained with Charcol until joining Coreco in August 2009 shortly after the business was established. Better known as Taff, he now works within the Specialist team here at Coreco Towers dealing with the extremely varied requirements of their many clients.

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