Bridging Finance Solutions has once again supported a client in realising their property aspirations with their latest short term lending deal.
A client in Manchester was keen to purchase an apartment in the city but was undecided on how to register the property, be it in a personal or limited company name. These delays inevitably led to further delays in securing the funds needed to complete the purchase, and the developer gave notice to withdraw the property from the sale.
With only three weeks to complete, the client turned to BFS to support the purchase of the property with a fast track to completion, borrowing £200,251, representing a 70% loan to value.
BFS utilised the expert services of their professional partnership, and, together with the client, completed the deal on the final day of the deadline, securing the investment property.
Adam Bluma of BFS commented: “This was a relatively straight forward deal in terms of the projects we finance, however, the importance of completing in these rapid timeframes cannot be underestimated when you consider the value this offers our clients. By working to and achieving the deadline, the client has secured the desired investment property, which would have fallen away once the deadline had passed.”