The client was a professional property investor and land agent.
The client owned a large country home with equestrian facilities and was in the process of selling 2 larger sites. The sales were moving at a slower pace than desired, and our client required the cash to take advantage of other opportunities.
Time was of the essence with this case, as the delay in the sale of the 2 development sites meant the client was at risk of losing out on further acquisitions. The client's broker identified a bridging loan as the most suitable solution for the client's needs and approached West One.
In order to avoid any potential delays, we were able to use an automated valuation on the security address enabling us to proceed without waiting for a physical valuation to take place.
The bridging team here at West One are adept at handling time sensitive cases and this case was no exception. We were able to complete within 6 working days, meaning the client was able to pursue other strategic opportunities without having to wait for the sales of their other assets to complete.
Quote from the broker Danny Robinson at Grey Matters Specialist Lending: "I have been pleasantly surprised by not only the speed of the bridge loan from application to completion but also the ease of getting there. This case as with most faced by lenders nowadays was not straight forward, to be able to have it done in such a short period of time is a testament to Greg Totton and the team at West One, nothing was left to chance and any queries were dealt with expediently by Greg to ensure the deadline."
Quote from Matt Watson, BDM at West One: "Getting this case turned round in under is a prime example of why using an experienced broker is vital when dealing with complex cases or tight deadlines. Clean communication from Danny at the outset allowed us to gain a full understanding of the clients' situation and propose a suitable solution that worked for all parties."