Scottish business secures £111k bridging loan against English property

By Bridging Loan Directory 12th March 2018

A Scottish company was looking to refinance a piece of development land in England, but due to cross-jurisdictional limitations, traditional bridging lenders were unable to help.

Enter the BridgeCrowd.

Their team of solicitors based in Scotland were able to take the instructions whilst their home players worked the English legal components in house.

Not only this but the site was home to Japanese Knotweed, something that would be a red card for most lenders. The BridgeCrowd were not deterred and instead sought a solution.

This client secured his win, and was lent £111,000 at a 56% LTV, thanks to the BridgeCrowd.

Louis Alexander, MD,BridgeCrowd said:

‘We recognise that some lending requirements are cross-juristictional and were keen to offer a solution for this very early on. We have an excellent team of solicitors in both England and Scotland that work together to cross these boundaries so that we can provide a smooth process for our clients.’