Regulated Bridging Finance for Below-Market-Value Prime Central London Purchase Opportunity
12th February 2024
- Client: HNW UK National and Resident
- Property Value: Approximately £10,500,000
- Loan Amount: Above £6,000,000
Enness were approached by a repeat client who needed access to a fast regulated bridging loan in order to capitalise on the opportunity to acquire an off-market penthouse apartment in the UK at a below-market-value price, which would ultimately be their family’s new main residence.
The client had an existing portfolio of properties which we were able to use to fund 100% of the purchase price of the new property.
There was considerable time pressure. The vendor had a change in personal circumstances meaning they had to sell the property within weeks and at a significantly discounted price.
The client needed to work with a broker and a lender who could guarantee their availability and be on hand at all times to work within those timescales.
We quickly presented indicative bridging terms to the client within 24 hours of the inquiry. The loan terms were credit-approved the following day, and valuations and legals were promptly initiated. Our swift execution was possible due to our extensive lending market experience, identifying a reliable lender, and ensuring the right lending team was in place. The collaboration of all parties involved on short notice ensured a seamless transaction.
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