BFS has completed yet another deal in Scotland in what advisers describe as, ‘the original purpose of bridging’.
In this case, the clients longed-for property came onto the market, however, their property had not yet sold and with pressure on from other interested parties, time was of the essence.
Andy Greenhalgh of BFS explained: “This really was a case of finding a way forward to secure the property and give the client some time and space in which to sell their current property. This is what a fast bridging loan does best and typifies what can be described as a , ‘traditional bridging deal’.
“We were able to turn this deal around incredibly quickly using the clients existing property to guarantee the loan, totalling £214,994. An exit strategy was put in place that centred around the sale of the original property.
“Whilst bridging finance can be used in so many ways to unlock deals – many of them property related – we do still see straight forward proposals such as this which we are happy to support. It’s also great to see a client secure their dream home and know that we were part of that process!”
