Christmas comes early for Crystal client with record 15-hour turnaround

By Bridging Loan Directory 5th December 2019

Christmas has come early for a client of Crystal Specialist Finance (CSF) after a stalled £748,870 deal was picked up and turned around in just 15 hours.

The broker’s client, who required the funds to redeem a second charge bridging loan and to raise capital for business purposes, contacted CSF at 17:30 on a Friday evening with the money drawdown on Tuesday afternoon.

Early on Monday, specialist lender Together took the short-term commercial loan case to offer immediately after which all searches were undertaken with the client signing the mortgage documents at his solicitor’s premises on the evening.

A fresh valuation was undertaken on the Tuesday morning with the lender agreeing to accept verbal figures from the valuer. An equitable charge was taken with consent-to-follow from Coutts.

Jo Breeden, pictured, Managing Director of CSF, said:

“The fact remains there is still plenty of time before Christmas to complete deals if the right professional support is in place and the lender recognises to complete good opportunities. This is specialist finance in action, companies working in conjunction to meet a client’s needs.”

Marc Goldberg, commercial CEO at Together, said:

“We have the team and expertise to look at applications and make quick decisions. This case demonstrates how we worked with our partners CSF and used common sense and flexibility resulting in a positive outcome for their client.”