The leading short term finance specialist launched into Scotland earlier this year and has been making huge strides, developing a growing foothold in this part of the UK.
In this first case, the client had purchased the property in Edinburgh, a former duplex that had since been made into two flats, and was keen to turn it back into its original layout. The client had secured a bridge several months prior, however, due to planning, a very high standard of work and bespoke specification, had over run on her projected costs. The client had tried to fund this extra finance via credit cards and personal income and required an additional £50,000 to complete the work, allowing her to refinance onto a long term product and clear any associated credit card debt.
The original lender wouldn’t allow the loan to be extended as the client had a number of credit card mis-payments since the original loan. BFS felt confident in the clients ability to repay the loan once the project was complete, and confirmed a loan of £351,000.
A valuation of £720,000 was established and the deal was completed within three weeks. The collaborative approach from the all professional services involved was instrumental in the quick turnaround.
Andy Greenhalgh from BFS commented: “BFS have spent many years refining our products, service proposition and processes and now feel confident of our expansion into Scotland.
We’ve had incredibly positive feedback from the clients and worked well with the local brokers. We are building new relationships and partnerships in Scotland and expect to see similar stories emerge from satisfied customers going forward.”
