Phone link
Phone link

Live chat

CORECO HELP LET DOWN CLIENTS SECURE PURCHASE WITH BRIDGING LOAN


Client:

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.

Requirement:

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.

Facility:

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.

Broker:

Peter Davies

Lock
DNA Shape DNA Shape

In case you missed it..


CorecoDNA

Overlay image

Personal

We know that all our clients are unique, and therefore the finance you require needs a different approach. We pride ourselves on providing a client focussed journey built around your needs and goals.

Overlay image
Overlay image

Professional

Our team always expresses their professionalism through their authenticity, high level of work ethic, and can-do attitude. We always find the best way for our clients to succeed.

Overlay image
Overlay image

Progressive

Our progressive and forward-thinking outlook allows us to guarantee an exceptional level of innovative advice and service, ensuring an effortless, client-centric journey in the ever-changing financial world.

Overlay image

CorecoContact

Want to talk to us?

Fill out the details below to start a conversation with one of the team.

Thank you for your submission

    CorecoReviews

    Advice you can trust