Bridging Loan Secured for a Auction Purchase

Business owners contacted us needing fast funding to complete a property purchase secured at auction. With strict auction deadlines and no flexibility on completion, time was of the essence to find a solution. Our clients required funding for 70% of the purchase price, and a bridging loan proved a suitable option. We secured a loan against existing assets in their portfolio, including a shop with flats above and an additional flat, all held within a limited company. While the mixed-use security added complexity, our team moved quickly to keep the case on track.

Within two days, we issued terms that met the client’s needs. The clients were quick to provide relevant documentation, allowing solicitors to be instructed shortly after. Clear and consistent communication between all parties ensured the case progressed. To save valuable time, a desktop valuation was completed. The funds were released just 10 days from the initial enquiry. The auction purchase completed on time and late payment penalties were avoided. The clients secured a £137,000 bridging loan on a 6 month term, successfully adding another investment to their portfolio. Their exit strategy is to remortgage onto a commercial term loan for long-term funding.