Fast Bridging Loans
Where time is a factor, fast bridging loans can be a real life-saver. The following case study shows just how useful our quick bridging loans can be when a major opportunity presents itself:
Last week, we were contacted by a broker whose client needed fast bridging finance (within 24 hours) to take advantage of a lucrative business opportunity. Their client had the chance to buy shares at a discounted rate in the company where he had worked for over 25 years but the option had a deadline which was due the following day. The broker originally believed he had sourced finance elsewhere via another bridging lender, using two investment properties as security, however at the very last minute the first charge lender reneged on its decision to allow second charge consent, thus leaving the client without the urgent finance needed.
Quick Bridging Finance in 24 Hr Turnaround
At UK Bridging Loans we fund all quick bridging finance deals using our own money and do not require first charge consent on every occasion, so we immediately knew that we could work around this problem. The issue then became one of speed but as our system is highly streamlined enabling us to progress cases at pace and with a high degree of flexibility, again we knew we could help. We immediately examined the deal, completed due diligence and provided indicative terms to the broker. All charges and conditions were included in the terms, allowing the broker to obtain acceptance after presenting the full facts to the client. We then worked late into the evening to finalise the loan documentation and emailed the client and his solicitor a copy of our formal offer, the legal paperwork and the outstanding information needed before completion.
The client visited his solicitor the following morning to obtain legal advice and complete our short list of requirements before meeting with us at lunchtime. We accepted the previous lender’s valuations as the figures fitted with our research and expectations. In many circumstances, we do not require formal valuations, so again this was not a barrier to us completing the finance quickly. Our in-house team reviewed the documentation returned from the client’s solicitors and after some minor clarifications, his quick bridging loan was funded that very afternoon. To ensure we met the client’s deadline, we paid the funds directly to the solicitors handling the share sale which enabled the purchase to complete that day, in time and less than 24 hours after the initial broker contact.
The client’s wealth has substantially increased due to the involvement of the team at UK Bridging Loans. Fast bridging finance is our speciality – we operate very differently from most other lenders and are therefore able to offer rare USPs. We don’t claim to be the cheapest in the market but we do get the job done swiftly and smoothly and with minimal fuss.
For further information please call 0116 3666338 or email email@example.com.
Some of our other USPs include 3rd charge bridging, charges on land (with or without planning), bridges for foreign nationals, adverse credit, 2nd charge bridges secured behind other bridging loans etc.