Together completes bridging loan in less than 24 hours
Specialist lender Together has helped a customer complete the renovation of his property by providing a short-term loan in just eight business hours.
The customer bought the seaside villa, situated on the edge of a golf course, for £500,000. And he had already started the refurbishment when he was hit with an unexpected tax bill.
Specialist broker Empire Commercial Finance brought the case to Together and the lender agreed to a short-term commercial loan of £105,000.
Christopher Murphy, associate director at Empire Commercial Finance, said:
“We were up against the clock and were keen to ensure we delivered for our client, fast. Together has a reputation for turning applications around in a short space of time and delivered a fantastic service for us overnight.”
Refurbishing property is a new venture for the customer, who works as an engineer. He hopes to sell the villa, which is just a few hundred yards from the beach, for a profit when the renovation is complete.
Robert Oliver, pictured, head of intermediary relations at Together, said:
“Our capability to review this case straight away meant we could look at the customer’s situation and make a decision on the spot. The broker submitted the case to us at 12.50pm on a Wednesday and we were able to fund it by 12.30pm on the Thursday. It’s great to see a fantastic outcome for the customer with such a quick turnaround.”