Our clients were a married couple based in Putney, London, who jointly owned a substantial residential property and had an established financial profile.
Area: Putney, London
Capital Raised: £522k
Date: 2018
Our clients were a married couple based in Putney, London, who jointly owned a substantial residential property and had an established financial profile.
One applicant was a self-employed dentist, while the other worked as a dental hygienist, with a combined annual income of approximately £104,000. They also had an existing mortgage with an outstanding balance of approximately £689,000 and 22 years remaining on the term.
The clients therefore required a fast and flexible funding solution to support their next property purchase.
The clients had already exchanged contracts for a new property purchase and required immediate funding to complete the transaction within a strict deadline.
Their objectives were:
The urgency of the transaction stemmed from the fact that contracts had already been exchanged, meaning that failure to complete on time could have resulted in significant financial and legal consequences.
This case involved several key complexities that required fast action and strategic structuring.
The transaction was highly time-sensitive, with completion required within approximately 10 days. In addition, the clients already had a substantial existing mortgage balance of approximately £689,000, while also requiring a large additional loan of more than £500,000 within a very short timeframe.
The purchase had already been legally committed through exchange of contracts, creating additional pressure to secure funding immediately. The transaction also involved a high-value property purchase, requiring lender confidence and efficient underwriting.
Traditional mortgage options were unsuitable due to the urgency involved and the immediate liquidity required to complete the purchase.
We arranged a tailored regulated bridging loan specifically designed to provide fast and reliable funding for the property purchase.
The funding solution included:
The overall structure was supported by combined security arrangements, resulting in a relatively low loan-to-value ratio when assessed against the clients’ wider asset base.
The lenders selected were offering both a competitive rate and the ability to complete within the required timeframe.
Given the extremely tight deadline, this case required a highly responsive and proactive approach throughout the transaction.
We carried out a rapid assessment of the clients’ financial position and overall asset base before structuring a bridge facility capable of meeting the strict completion deadline. Additional security was leveraged to strengthen the application and reduce overall lending risk.
A suitable lender was sourced that could accommodate the urgency of the transaction while also delivering fast underwriting and completion capability. The facility was then aligned carefully with the clients’ proposed exit strategy through refinance onto a long-term mortgage.
Through close communication between all parties involved, the transaction progressed efficiently and completed within the required timescale.
The bridging loan completed successfully, enabling the clients to complete their property purchase within the required deadline.
As a result, the clients were able to:
Conclusion:
This case highlights how bridging finance can provide fast and effective solutions for property purchases under extreme time pressure, particularly where contracts have already been exchanged.
By focusing on asset strength, structure, and exit strategy, bridging lenders can deliver reliable funding solutions in situations where traditional mortgage products are unable to meet the required timescales.
