First 4 Bridging arranges £2.5m bridge in 72 hours
First 4 Bridging, the UK master broker, today announced it completed a £2.5m loan for a client of Adapt Finance in just three working days.
To ensure the client didn’t lose out on a strong investment opportunity — the purchase of a retail outlet in London — it was important that the funds were delivered very quickly. Working closely together, First 4 Bridging and Adapt Finance rapidly found a lender — Together — that would provide the finance.
First 4 Bridging first started working on the case with Adapt Finance on Thursday afternoon and ensured the funds were with Adapt Finance’s client by Tuesday lunchtime.
The case was a complex one, with three London properties — an office building, residential HMO and 3-unit block of flats — acting as the security for the £2.5m loan.
Jordan McBriar, Director, Adapt Finance, commented:
“First 4 Bridging’s contacts and forensic knowledge of the short-term lenders helped get what was a complex and large loan over the line in an incredibly short time period. It was a text-book example of how a master broker can add value for a broker like ourselves.”
Lorenzo Satchell, pictured, Director, First 4 Bridging, added:
“Speed of turnaround is what bridging finance is all about. Adapt Finance were great and gave us everything we needed when we needed it and, knowing that this was a case that Together would immediately go for, it went through without a hitch.”
Marc Goldberg, Commercial Board Director, Together, added:
“First 4 Bridging have a solid understanding of our product offering and supplied us with all the information we needed to complete this deal in just three days. Our common sense approach to lending allows us to work with our partners to provide fast and flexible finance and this is a great example of that in practice.”