Recent completed deals

Funding Stock

A client who specialises in importing and selling second hand cars from China required funds urgently to finance an order.

He owned a property worth £159,000 with no mortgage and Bridging Finance Ltd provided a £50,000 bridging loan in 2 days.

Complete our Enquiry Form to get a NO OBLIGATION decision in principle today.

Buying & Selling Property

A client had agreed to buy a beachfront property from the local authority for £146,000.  Prior to contacting Bridging Finance Ltd, the client had struggled to raise the £105,000 needed to complete.

Bridging Finance Ltd was approached during a ‘Notice to Complete’ when the client had just 3 days left to complete. He instructed his solicitor immediately, completed in just 2 days and the client later sold the property for almost £600,000.

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Discharging a bankruptcy

Bridging Finance Ltd client was facing a petition to be made bankrupt by the Inland Revenue.  He owned 2 properties, one commercial, one residential, both mortgaged.

Bridging Finance Ltd was approached to lend £45,000 to settle the debts under the petition and to clear the client’s arrears with the mortgage companies.

Bridging Finance Ltd obtained a settlement figure for the petition, obtained consent for second charges on each property, obtained undertakings from the client’s solicitor and then put the solicitor in funds in order that an application could be made to the courts to settle debts under the petition.

Upon receipt of the sealed order from the court, their in house legal team liaised with the client’s solicitor to complete the transaction.

Complete our Enquiry Form to get a NO OBLIGATION decision in principle today.

Avoiding Repossession

Bridging Finance Ltd client owned a property worth £110,000 on which she had a £41,000 mortgage.  The arrears on the mortgage were such that the client was 2 days away from being repossessed.

Bridging Finance Ltd was approached to lend £74,000 to redeem the mortgage in order to allow the client’s broker time to complete a remortgage.

The client already had a valuation of the property and Bridging Finance Ltd requested a redemption figure from the first lender the same day.  The legal agreements were signed the following day and the funds were sent to the first lender in time to avoid the repossession.

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Property Development

Bridging Finance Ltd's client owned a piece of land worth £40,000 at the end of a row of terraced houses and obtained planning permission to add another terrace to the end of the row.

Bridging Finance Ltd arranged for a valuation to be carried out and the client provided a schedule of works for the project.  The valuer stated that on completion the terrace would sell for around £135,000 and Bridging Finance Ltd agreed to provide the client with a facility of £78,000, available in 3 equal stages.

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Property Conversion

Bridging Finance Ltd's client owned a hotel with no mortgage which had a bricks and mortar value of £300,000.

The client wished to convert the property into luxury apartments and required a facility of £600,000 for the project.

Bridging Finance Ltd provided the client with an initial advance of £152,000 and the rest in various stages throughout the project.

The end result was that the 8 flats sold in total for more than £1.2m.

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Company Restructuring

Bridging Finance Ltd client owned a manufacturing business and was in talks with new bankers following a disagreement with the existing lender.

Unfortunately talks with the new lender had become protracted and the existing lender decided to ‘call in’ the outstanding overdraft facilities and was preparing to appoint a receiver.

A valuation had already been carried out for the new lender and Bridging Finance Ltd completed a £1m bridging loan in 5 days which bought the company sufficient time to refinance the business.

Complete our Enquiry Form to get a NO OBLIGATION decision in principle today.

Overseas Property Acquisition

Bridging Finance Ltd client owned a property in the UK worth £200,000.

She urgently required £51,000 to complete the purchase of a property in the US.

Bridging Finance Ltd obtained a valuation of the property and sent the client an illustration of the bridging loan and an application form by email within an hour.

She completed and faxed back the application form the same and Bridging Finance Ltd sent out the legal agreements that evening.

She saw her solicitor the following morning, returned the documents to Bridging Finance Ltd and then sent her the funds by telegraphic transfer.

Complete our Enquiry Form to get a NO OBLIGATION decision in principle today.