BridgeCrowd underwriter works through the night to complete a £950,000 bridging loan in 48 hours to stop repossession
A London based borrower sought funds to refinance his current commercial grade II listed building in Spitalfields. Obstacles arose with traditional lenders because this client was is in the process of obtaining planning permission, change of use as well as grade II listed building permissions.
Enter the Bridgecrowd.
The client was facing issues that standard lenders deemed to much of an issue to lend in such a short space of time, but this type of case is welcomed by the team at the BridgeCrowd. By working extremely closely with the client, day and night, with telephone conversations with the Head of Underwriting often during unsociable hours, a number of potentially deal breaking issues were smoothed out within 48 hours.
The client opted to used the BridgeCrowd dual panel solicitors to represent him and the BridgeCrowd were happy to carry the mantle and work tirelessly to achieve the desired goal. Post completion, the client admitted that he could only have completed in time due the speed of the panelled solicitors and the BridgeCrowd team who worked together in harmony to get the loan over the line.