Large Bridging Loan for New Build Flat
18th May 2021
Key facts:
- Saudi National
- New build flat, Battersea
- £2,300,000 property value
- £1,610,000 loan amount
- Margin 1.5% per month
- 12 month term
Sometimes marketed as the ultimate problem solver and opportunity creator, bridging finance is often used in situations where you’re against the clock or temporarily short of capital.
This was the case for one of our clients who needed to complete a property transaction quickly. His purchase of a new built flat in Battersea had to close in 2 weeks. Having planned to buy in cash, the client was experiencing liquidity issues due to the Covid pandemic and hence contacted us.
We knew that a bridging loan would be the optimal solution for this case. These short-term loans can be turned around in a matter of days, so are an excellent means to raise fast funds. We negotiated a mortgage at a rate of 1.5% per month, which was a fantastic rate in light of the complexity of this case. Learn more about million pound mortgages.
Enness will help you understand bridging finance and what the benefits and risks are. Working exclusively on your side, Enness will get you the best deal, terms and remove stress from what can otherwise be complex transactions. Available to you 24/7 to answer questions, provide assistance and support throughout your transaction, Enness will save you time, money and unnecessary hassle.
Get in touch now to discuss your financing scenario.
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