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