Trinity arranged a £1 million bridging loan for a client to enable him to purchase a large site he had agreed to buy.
He had £1.1 million to put towards the property purchase, but required additional funds. He was under considerable pressure the secure the addition funds because he had already exchanged contracts and needed to complete.
He planned to turn the site into luxury flats.
Many bridging providers will not consider lending against properties without planning permission. They will simply lend on the open market value.
Trinity Specialist Finance introduced a specialist lender happy to provide finance based on the site's potential and its impressive location.
Our client had a track record of securing planning consent on properties in London and a history of developing them. So, this lender was comfortable to go ahead.
|Property location:||Central London|
|Rate:||1% per month|
|Lender's arrangement fee:||£18,500|
|Early repayment charge:||None|
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Find out how we can help you to secure bridging finance by calling 020 7649 9885, or book a consultation using the form below. Our experts are happy to assist.