Together has completed a £1.2m regulated bridging finance deal for a homeowner in Scotland, enabling them to secure a new luxury home in the Cairngorms ahead of the sale of two existing properties.
The transaction was completed through Together's Premier for Intermediaries service and introduced by Crystal Specialist Finance, which had previously used the lender's £1m+ proposition on several high-value commercial cases.
The client, a managing director, was looking to purchase a new main residence but had significant wealth tied up across their existing personal properties. Substantial equity was available, but the timing of the planned sales meant funding wouldn't be in place in time, putting the client's dream move at risk.
Working closely with Crystal Specialist Finance, Together structured a 12-month regulated bridging loan secured against the client's main home and a second home, both in Edinburgh, at a 60% overall loan-to-value. The loan allowed the client to fund the full £1.2m Cairngorms purchase immediately, while giving them time to sell their existing assets, which would act as the exit strategy for the bridging finance, supported by additional personal savings.
"We're seeing increasing demand from brokers for personal finance cases above £1m, many of which need to be assessed and completed at speed," said Dan Narwal, intermediary corporate account director at Together (pictured).
"These deals often involve multiple properties, complex income and nuanced exit strategies, meaning brokers need access to experienced underwriters who can assess the bigger picture rather than relying solely on automated processes. Premier for Intermediaries was created to support exactly these types of requirements.
"By providing direct access to a dedicated team, we're able to manually assess complex cases while maintaining the speed and certainty that brokers and their clients expect from a bridging lender."
Jason Berry, group sales director at Crystal Specialist Finance, said the firm's prior experience with Together gave it confidence going into the case. "Having previously used Together's Premier for Intermediaries service on a number of larger commercial transactions, we were confident they had the expertise and resource to support our client's plans," he said.
"The case involved a high-value residential purchase, so it was important to work with a lender that could provide clear guidance throughout. Communication was excellent from the outset and the Premier team kept the case moving at pace, giving our client and ourselves confidence throughout the transaction."
If you’re exploring bridging or development finance, get in touch and we can connect you with the right lender.
