Second charge bridge to discharge outstanding debt against Central London property
By Bridging Loan Directory -
Second Charge Bridge Required to Discharge Outstanding Debt Against a Property in Central London
Gross Loan Amount: £2,000,000
Market Value: £8,500,000
USP: Speed of completion. We were able to complete within the client’s deadline by instructing a surveyor who could inspect the property the same day and provide the report 48 hours later.
A new broker approached Market Financial Solutions (MFS) for short term funding, for a client looking to discharge their existing debt and release additional funds, to purchase another Investment property. The client had already sourced an indicative offer from a long-term refinance lender, meaning MFS were more than happy to fund the client and meet their needs. The client was extremely pleased with the structure of the offer, to generate the maximum loan amount, so they did not lose out on their new Investment property. MFS swiftly moved the matter forward by instructing the valuer and requested they value the security on the same day, with the Valuation report to follow 48hrs later. With the additional support of theirr Solicitors, MFS were able to complete the transaction, within the anticipated completion date asked for by the client. The client was extremely pleased and MFS were able to conclude the matter within the deadline, to help them meet their needs. The exit was through long term refinancing.
Paresh Raja, CEO, Market Financial Solutions said:
“By restructuring the finance for our client , strengthening their position so that they can buy the investment property fast but also at the same time by having a bridging facility for a longer term in case there are delays and not to go into default rate . We work with our clients to get the best deal !!”