£725K Residential Bridging Loan Secured in 12 Days

• Loan Amount: £725,000
• Timeframe: 12 Days
• Purpose: Residential Purchase
• Location: South London

The Challenge

A client approached Global Bridging Finance after their high street lender pulled out of a residential purchase just two weeks before completion. The property was in South London and valued at over £1M. With contracts already exchanged, the client risked losing a substantial deposit and the home they had worked hard to secure. Traditional mortgage lenders were unable to move fast enough to meet the looming deadline.

The Solution

Our team immediately stepped in to source a tailored residential bridging loan. By leveraging our network of specialist lenders, we secured terms for £725,000 at a 70% loan-to-value ratio. The facility allowed for an interest roll-up structure, meaning the client had no monthly repayments during the term.

We worked closely with the client’s solicitor and the lender to expedite the underwriting and valuation process, ensuring the loan was drawn down in just 12 days. This speed provided the certainty the client needed to proceed without delay.

The Outcome

The bridging loan enabled the client to complete their South London purchase on time and without incurring a financial penalty. With the property now secured, they are arranging a longer-term residential mortgage at a more competitive rate to refinance the bridging loan.

This case highlights the effectiveness of residential bridging finance in addressing urgent funding challenges, particularly when traditional lenders are unable to meet deadlines.