This particular client was referred to us by a broker who we have an excellent longstanding working relationship with. We found that the client was at risk of losing a property they were purchasing as they were waiting for their property sale to catch up. There had been a number of false starts for the client after they had been poorly advised on mortgage applications, resulting in a lot of lost time.
They were being pressured for completion of the purchase, so they needed to look at what could be done or potentially miss out on their ideal home.
The client had investments running in the background that they were hesitant to cash in as they would lose out financially, although as a last resort they would go down this route if required.
Solution
Despite the pressures that were being heaped on the client and the extremely tight deadline, we were able to work closely with one of our specialist bridging finance lenders to manage both the transaction, and the vendor’s expectations. As a result, the client was able to hold on to the property, complete and avoid cashing in the investments.
About The Author
This content was produced by our Commercial Lending Director, Gary Hemming. Gary has over 15 years’ experience in financial services and specialises in bridging loans, commercial mortgages, development finance and business loans. He is widely respected in his field and regularly provides expert commentary for specialist trade publications, specialist business press as well as local and national press.
Gary Hemming CeMAP CeFA CeRGI CSP -
Commercial Lending Director
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