Together’s one day turnaround saves landlord’s renovation project
By Bridging Loan Directory -
Working alongside second charge master broker Smart Money, specialist lender Together has delivered funding in 24 hours to enable a landlord to complete renovations on his buy-to-let property.
The landlord required funding urgently to pay contractors working on his tenanted north London property, a semi-detached house valued at £375k, so that he could finish the refurbishment on time.
He needed £48.5k to complete the project, which would maximise rental yield as well as adding long-term value.
Together reviewed the case and agreed to deliver the funds against the tight deadlines, working closely with Smart Money to ensure the process was as swift and smooth as possible.
Jamie Jolly, pictured, commercial relationship manager at Together said:
“Our brokers know that they can turn to us when a case is complex or there are tight timescales and we’ll always do our best to help. We have a longstanding relationship with Smart Money and their understanding of our offering and our processes meant that they could ensure we had everything we needed to review the application quickly. They then worked closely with our underwriting team to get the funds to the customer within the timeframe.”
Mike Scott, commercial director of Smart Money added:
“In situations like this, the relationship between broker and lender is essential as it takes real teamwork to deliver such a quick turnaround. Having worked with Together for many years, we knew we could trust them to ensure the best possible outcome. The customer was delighted with the result, and was able to complete his refurbishment in time and add value to his property portfolio.”
Together has been providing specialist finance for 43 years and recently announced record results, with annual new lending to 30 June 2017 at close to £1.2 billion and a current loan book of over £2.24 billion.