Down valuation fails to halt business investment, thanks to the Bridge Crowd
A business director looking for business investment funds sought to secure a bridging loan against his residential property. However, a major down valuation on this property spread reluctance throughout traditional bridging lender companies, and the customers’ request fell flat.
Enter the BridgeCrowd.
Once again, this team of experts worked around the problem and utilised their excellent relationship with the first charge holder to secure consent. Despite the undervaluation and high service charge that the client faced with this property, the BridgeCrowd were able to offer a solution.
Their approach even withstood the applicant’s failure of the first line defence fraud check. By using their in house Bank Vision service to check the client’s affordability, they were able to determine that the applicant could manage the repayments and that the loan could be granted responsibly.
Louis Alexander, pictured, MD, The BridgeCrowd said:
‘Our bridging loans are designed to befit a wide range of consumer requirements. Our experience in the field, and the relationships that we share, help us to provide an individual service without compromising competitive rates.’