Funding 365 completes short lease bridging loan in just three days
Funding 365 has completed yet another bridging loan in just 3 days, this time to save the purchase of a property with only 37 years remaining on the lease.
The loan, which was introduced by specialist property finance broker Top 10 Finance, was required urgently by the borrower to complete the auction purchase of a flat in North West London. Given the time constraints, Funding 365 waived the valuation on this occasion.
Funding 365’s Short Lease bridging product has been designed to fill a gap in the market, for properties with 10-70 years remaining on the lease. Interest rates for this product start at 0.99%pcm, up to 70% LTV (100% with additional security).
Funding 365 Director, Paul Weitzkorn, pictured, comments:
Top 10 Finance Director, Zara McDermott adds: