Bridging Loan enables client to purchase property at auction

13Feb2019

Bridging Loan enables client to purchase property at auction

The problem

Our client was looking to secure the purchase of a Buy to Let property with the intention of converting it into several residential dwellings.  The property purchase price was £1.5 million and the client wanted to borrow at the 75% LTV. As the client was purchasing at auction the deal was timebound and completion needed to happen as quickly as possible.

How we solved it

GPS Finance found a lender that was willing to fund 75% of the purchase price to allow the client to secure the property.  The funds were ready to draw down within 2 weeks.

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  • 13 Feb, 2019
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