£1.2M loan. title insurance. 11 working day completion.

Scenario

supported a broker with a customer who needed to:

• Refinance an existing development loan before the current lender's terms expired
• Avoid default penalties by completing within a tight timeframe
• Secure additional funding to complete the final stages of a residential development
• Move quickly while managing a full valuation requirement

With a time-sensitive deadline, the broker needed a lender that could deliver both speed and certainty.

Outcome

We provided:

• Loan amount: £1.2m
• LTV: 75%
• Product: Non-regulated bridging

The bridging loan refinanced the existing borrowing while providing additional capital to complete the development. A full valuation was undertaken, with title insurance and a joint representation legal structure helping to streamline the legal process and support a fast completion.

The planned exit is through the sale of the completed development.

Why it worked

Fast delivery

The case moved from application to offer in seven working days and completed just four working days later, with funds released in a total of 11 working days.

Efficient legal approach

The use of title insurance alongside joint representation helped accelerate the legal process without compromising the necessary oversight.

Funding beyond the refinance

In addition to repaying the existing lender, the facility provided further funding to complete the final stages of the development, supporting the client's planned exit strategy.

Broker advantage

The broker was able to help their customer avoid default penalties, refinance on time and secure the funding needed to complete the project.

Got a case like this?

Speak to your specialist finance manager or call 0800 116 4385.