Loan amount: £1.3m
Our client, a property investor from Hampshire, needed to release funds from one of their investment portfolio properties. Though they had considerable assets, they did not have the cash available at point of request.Considering they did not wish to reduce the number of properties in their portfolio by selling to release funds they contct our Specialist Lending Department at One 77 to organise a long term bridging loan solution.
Our solution was to arrange a 5 year rolled up bridging loan against one of their buy to let properties in Brighton. In effect this meant that they could release the £1.3m they required from the property to live on and make no monthly payments. The clients are now in a position whereby they can market the property after the period taken out, or again look to refinance the property.
Do you require long or short term bridging finance? For our full range of specialist finance options and products call our Specialist Lending team on 01249 474956.