£1.8 Million Residential Bridging Loan for Property Purchase

Client: High-Net-Worth Individual
Loan Type: Residential Bridging Loan
Loan Amount: Circa £1,800,000
Property Value: Circa £3,000,000
LTV: 60%
Purpose: Urgent property purchase and refinancing

Case Overview

Global Bridging Finance was approached by a high-net-worth individual seeking to purchase a prestigious residential property in central London. The property, valued at £3 million, was located in one of the city’s most sought-after areas and presented a unique opportunity to acquire a family home. However, the client faced a tight deadline due to the seller’s desire to close the deal quickly and the presence of other potential buyers in the market.

The client had the majority of the purchase funds available but required additional capital to cover the shortfall and ensure the property could be secured before the seller accepted another offer. Given the urgency of the situation, the client turned to Global Bridging Finance for a residential bridging loan to expedite the deal, with plans to refinance onto a long-term mortgage once the property was in their possession.

The Solution

Global Bridging Finance acted swiftly to source the necessary bridging finance. We arranged a £1.8 million residential bridging loan at an LTV of 60%, which allowed the client to cover the difference between the funds available and the property’s purchase price. The loan was secured against the property and structured to provide the necessary flexibility for a smooth and timely transaction.

Given the tight timeframe, our team worked closely with the lender to ensure the loan could be processed quickly, facilitating a quick property valuation and streamlining the legal process. We ensured all necessary documentation was in place to avoid delays and kept the client updated every step of the way.

The Outcome

With the £1.8 million residential bridging loan secured, the client was able to complete the purchase of the £3 million property within the required time frame, securing the property before another buyer could make an offer. The client was then able to move forward with their long-term plans for the property.

Once the property was secured, the client successfully refinanced the bridging loan with a more competitive buy-to-let mortgage, reducing their monthly repayments and securing more favourable terms. The residential bridging loan allowed the client to navigate a time-sensitive property purchase without the stress of traditional financing delays.

The success of the transaction demonstrated the value of using residential bridging finance for high-net-worth individuals seeking to secure properties quickly, particularly in urgent or competitive situations.