Residential purchase to expand a property portfolio – N London
Loan Value – £340,000
Property Value – £490,000
LTV – 70%
A client approached us directly to discuss an opportunity that could expand their property portfolio. This was through the purchase of a residential property in North London. However, there was a deadline of 2 weeks to complete on the transaction, or the client would lose it.
We offered a 1st charge bridging loan to allow them to purchase the property. We completed valuations whilst also adhering to social distancing guidelines from the Government and instructed legals quickly to ensure that the opportunity was not lost.
The client added to his property investment portfolio, and secured the residential property before the two week deadline.