Our client was in discussions with a private bank that were looking to repossess their property due to miscommunications. The client, based internationally, had a requirement to quickly repay the loan with the bank before the institution sold the property at less than 65% of the property value.
Our team worked with our private bridging contacts to seek an immediate solution for the client. In seven days, the team had issued agreeable terms with the client, pushed the lawyers on the legal work and completed the transaction.
We then worked with the client to rehouse the loan with a long-term solution before the bridging loan expired.
- Loan to Value: 65%
- Interest Rate: 1% per month
- Loan Amount: £1,500,000
- Term: Six Months