Key Details

• Regulated bridging loan.
• Mortgage amount £225,000
• Loan to value 15%
• Victorian house in Peckham Rye.

Challenge

A year earlier, our client had inherited a property in need of modernisation. At that time, we arranged an initial bridging loan to provide breathing space, to empty the property and make home improvements before marketing to sell.

Due to other events and extra works to the property, the initial bridging loan term passed. A new bridging loan was needed to replace the current loan and provide additional funds to pay a portion of the inheritance tax bill.

Solution

Refinancing an existing bridging loan can be difficult and not many lenders in this space can assist. There reason for a bridging loan over another form of finance, was for the flexibility to repay without penalty and have no monthly payments.

Working with a bridging loan provider that we trust, we were able to provide enough context and highlight case strengths for the lender to be comfortable to provide the loan and the plan repay.

Talk to us today

Speak with our consultants today for a better idea of what’s possible.

‍t. 020 8156 3166

e. luke@haydenblair.co.uk

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