A client approached UK Property Finance seeking a bridging loan of £2.25 million to cover the purchase cost of investment properties, carry out refurbishments, and later sell the developed properties for a profit.
The client wanted to take funds out of his unencumbered buy to let London property, although the tenants of the property had COVID-19. The client needed to move this forward quickly; therefore, we applied with Hope Capital, who agreed to carry out a drive-by valuation.
In order to meet the client’s deadline, it was paramount that all parties worked together to answer all points quickly and efficiently. This was completed by members of staff at UK Property Finance, Hope Capital, and the lender’s legal team, Freeth’s.
Swift turnaround
Laura Carr, Head of Underwriting at Hope Capital, commented: “It’s always a pleasure working with our friends at UK Property Finance and Freeth’s. Swift and transparent communication was key to ensuring we could get this deal across the line in time. A huge thank you to Lisa and Sian at UK Property Finance, Luke at Freeth’s, and everyone else involved who helped us pull this case off so quickly and efficiently.”
Sian Taylor, Processing Executive at UK Property Finance, commented: “Working alongside the team at Hope Capital was a joy; they were very efficient and worked quickly to resolve any issues that arose during the process. The client wanted fast finance, and that is exactly what was delivered by the team at Hope Capital and everyone else involved. The smooth process delivered by Hope Capital was a relief to the client and to the processing team at UK Property Finance.”
If you require property finance through a bridging loan, contact the team at UK Property Finance for a quick and efficient solution.