No ordinary charity case

No ordinary charity case

One of the aspects that makes working in the Bridging sector so interesting is its variety, whether of the story behind the loan or the borrower. In this case it was both. United Trust Bank was approached to provide finance to assist a charitable foundation purchase a London flat. The intention was to let the […]

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Bridging helps businessman to make an off-plan profit

Bridging helps businessman to make an off-plan profit

In November 2013, our borrower, an entrepreneur businessman, had agreed to purchase an apartment off-plan. The apartment is in Central London and had a purchase price of £2.4m. A substantial deposit had been paid upon exchange of contracts. The development was finished ahead of schedule and our borrower was served with a notice to complete […]

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Bridging loan funds a fleet of limos

Bridging loan funds a fleet of limos

We were approached to help a customer who, together with some members of his family, runs a well-established limousine business. The fleet of cars is “refreshed” at regular intervals and the business required short term funding to facilitate the most recent set of new car leases. A member of the borrower’s family lived in and […]

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Pension provides part of the exit for this house purchase bridge

Pension provides part of the exit for this house purchase bridge

Our borrower is an international sports personality who spends much of their time abroad but wanted to purchase a UK residence for when they were “home”. The loan was secured by way of a first charge on the property being purchased, but what was slightly unusual about this case is the exit. There is often […]

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A pragmatic approach to a challenging bridging loan

A pragmatic approach to a challenging bridging loan

Our borrowers were experienced professional property developers who owned a significant portfolio of residential and commercial property as well as development sites. They required a short term facility for general business cash flow purposes, but essentially it was anticipated that monies were to be used towards two site acquisitions. The bridging loan was to be […]

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Bridging a downsize to a mobile home

Bridging a downsize to a mobile home

According to the Prudential, almost 2.5 million ‘last time buyers’, those being current home owners over the age of 55, plan to downsize their homes. Our own anecdotal experience supports the Prudential’s finding as to the reasons why people downsize. These include having too much space, the convenience of running a smaller home, changes in […]

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Borrowers’ home secures a bridge to buy at auction

Borrowers’ home secures a bridge to buy at auction

Although bridging loans are often used to assist with the purchase of properties at auction, the property being purchased does not always have to be taken as security for the loan. The following is a good case in point. Our borrowers, a retired couple, had purchased a Grade II listed farmhouse at auction and had […]

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Bridging loan secures a purchase within two weeks

Bridging loan secures a purchase within two weeks

Bridging loan secures a purchase with a two week drop dead date Our borrowers approached us in the middle of the month with an urgent requirement for short term bridging finance. They had been looking for some time to purchase a property near their children and had very recently come across a completed new build […]

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