Together delivers 24 hour regulated bridging loan to secure dream home

By

together

Together and specialist finance packager, Truffle Specialist Finance provided a regulated bridging loan for a couple to buy their daughter’s dream home, against an incredibly tight deadline.

They had been in the process of selling the flat they owned in Plymouth which their daughter was living in but had faced a delay in completing the sale.

In the meantime, their daughter had found her dream home but needed to complete the deal within 24 hours or lose out on the property.

The couple approached Truffle, who, knowing the lender’s reputation of providing finance quickly, brought the case to Together.

The specialist lender, which has a loan book of £8.1billion, agreed to provide a regulated bridging loan of £121,000 for the couple within the 24-hour timeframe, allowing their daughter to put down the deposit on her new home.

They will exit the bridging loan using the proceeds from the sale of the Plymouth apartment.

Alex Carr, Together’s underwriter who handled the couple’s application, said:

“This was a great collaboration between Truffle and Together which delivered a fantastic customer outcome.

As soon as Truffle brought the case to us, we understood the urgency and were able to work as a team with the broker and their client to get in place all the necessary documents needed to complete the deal.

It helped that Truffle’s clients had an impeccable credit record and that they and their solicitors were quick to respond to our requests.

Cases like these are really motivating as you get to see how fast and flexible bridging finance can help a client achieve their property ambitions.”

James Rainbird, managing director of Truffle, said:

“Together has a superb reputation in the specialist lending market for being able to deliver and this was the perfect example of them pulling out all the stops, going above and beyond to make sure our client’s deadline was met.

The fast funding meant our client’s daughter could seize the opportunity to buy her dream home, without having to wait for her flat to sell, and her parents were delighted to be able to help their daughter step up the property ladder.”

Google NewsFOLLOW ON GOOGLE NEWS