Fast bridging loan for a foreign national

Bridging finance is a faster option than many other forms of finance, but there are instances when going through due diligence checks and other processes that need to be completed to make sure lenders feel comfortable to lend can take time.

At West One, we have a team of experts who have years of experience and work swiftly to get funds to our clients - fast!

Our team are highly experienced in navigating through different scenarios and complicated situations, and strive to work through these as efficiently as possible.

The national average completion time for a bridging loan is around 52 days. This case study looks at how we quickly helped a Swedish national secure a 768k bridging loan in under one month.

 

  • Loan value
    £768,000
  • LTV
    38.4%
  • Development value
    £2,000,000
  • Loan term
    12 months 

 

Get your complex cases moving today. For a personalised, speedy approach to lending, look no further. For a quick chat or to find out more about our products, get in touch. Give us a call on 0333 123 4556 or drop us a message.

The client

The client was a high-net-worth Swedish national residing in the UK, who owned a four-bedroom property in Belgravia.

Fast-bridging-loan-completion-for-foreign-national

 

The client needed to repay an existing Unilateral Notice that was registered against the title, they also needed funds to cover the cost of extending the long leasehold on the security.

Finally, they needed to raise funds to finalise the sale of a trademark to a Blue-chip company.

The client wanted to use the property they owned in Belgravia as security for a loan, but there were only 49 years left on the lease – this needed to be extended.

We had to work fast due to time constraints around the UN1 notice.

A bridging loan was the most suitable form of finance in this case because it would be the quickest.

To speed the process up even further, we used an internal valuation assessment to release an initial £125k as the landlord was not going to action the lease extension in time.

We then subsequently released the remainder of the funds simultaneously with the lease extension so that the client can finalise the sale of the trademark and extend the lease simultaneously.

By using West One, our customers instantly gain access to bridging experts who are highly experienced and can work quickly and tackle obstacles that can arise during the loan process, such as changes to time constraints.

 

We strive to offer our clients the funds they need as quickly as possible, allowing them to move seamlessly forward with their plans, whatever they may be.

Result

Due to the in-depth knowledge, thorough communication, and fast pace kept up by our team, the client was quickly able to pay for the extension of the lease within the short deadline and repay the Unilateral Notice so that they could complete the sale of the trademark in the timeframe required.