Funding 365 has completed a £930,000 residential bridging loan within 48 hours of enquiry, helping a landlord avoid a 5% default fee from their previous lender.
Introduced by Aureum Finance, the 65% LTV loan is secured against a bungalow in outer London that had been converted for use as social housing.
The property has a tenant in place, with the borrower intending to use the bridging term to transition onto a specialist buy-to-let mortgage.
"My client needed to refinance within 48 hours, and there was no room for delay," said Joe Guilfoyle, Head of Specialist Finance at Aureum Finance.
"Funding 365 understood the deadline from the outset, made clear decisions early and kept everyone moving. Plenty of lenders talk about speed, but very few deliver it when it genuinely matters. This was one of those times."
"This case really highlights what can be achieved through close collaboration between broker, lender, valuer and lawyer," added Katie Spitz, Deputy Head of Underwriting at Funding 365 (pictured).
"At Funding 365, one underwriter manages each stage of a loan from enquiry to redemption, which puts us in a particularly strong position to deliver to tight deadlines. Credit to Joe, and to John Smith, John Coady and Jess Hindle at Fieldfisher, who turned this around in just 24 hours from receiving the legal undertaking."
If you’re exploring bridging or development finance, get in touch and we can connect you with the right lender.
