Scenario
A first-time buyer secured a regulated light refurbishment bridging loan to purchase a property at auction in Hampshire. The property required internal refurbishment before it could be refinanced onto a residential mortgage.
Despite being a first-time buyer - typically outside of standard policy, the application was accepted as a policy exception due to the applicant’s strong income and use of personal savings to fund both the deposit and refurbishment works.
Outcome
The offer weas issued in just 14 days and completion only took an additional seven days. The buyer was able to secure the property within auction deadlines, carry out the required internal improvements, and exit the bridge via a residential refinance once works completed. This case demonstrates our flexibility and speed, even for buyers who fall outside standard criteria.
Why it worked
Strong income and savings
Clear exit strategy via refinance
Reasonable refurbishment scope
Policy flexibility and quick execution
Helping your customers move quickly starts with the right lender.
See how we can support your next case. Speak to your Specialist Finance Account Manager today.