The client was an experienced property investor, with a successful history in purchase, refurbishment, and sale.
A freehold detached house extending to 17,188 square feet with an in-door swimming pool located within a secure gated compound.
The client found an opportunity to purchase an undervalued property, the plan was to raise capital to refurbish the property and put it up for sale once it was ready.
The client’s initial financial plan was no longer a viable option and therefore they suddenly required funding in a short timeframe.
It was agreed that three properties would be used for security, which allowed the team to be more comfortable with the case overall.
The risk team evaluated the details around the case an advised the case manager and underwriter throughout the process. It was understood from the beginning that fast deliverability was essential.
A solicitor capable of completing deals in short turnarounds was requested to help get this deal over the line. The team, client and all relevant parties remained in constant communication among one another, ensuring everyone was aware of the progress of the deal.
From enquiry to completion, the client and the team kept in regular communication, allowing everyone to fully understand the deal.
West One’s internal team and any partners, such as experienced solicitors, are always ready to take on challenging cases where speed and attention to detail is vital. Everyone worked together and provided guidance to one another, allowing the case to be completed within a matter of days.
The client was able to secure a bridging loan with 50.81% LTV, the finance was provided within 7 working days allowing them to continue with their refurbishment project.