StreamBank has delivered a £454,790 bridging facility to support the time-critical purchase of a holiday let, structuring the deal against three properties in order to meet a strict two-week completion deadline.
The borrower, an experienced property investor based in the South West, was seeking to secure a high-yielding holiday let opportunity in a popular coastal location. Due to the fast-moving nature of the transaction and competitive bidding environment, they required a rapid completion with funding in place within 14 days.
To meet the timeframe and provide the required loan amount, StreamBank structured the facility as a multi-security loan secured against three residential assets, using a hybrid valuation approach combining desktop and AVM valuations.
Funding was delivered at 61% LTV at a rate of 0.74% per month, supported by a £1,000 legal fee contribution through the StreamEdge product.
StreamEdge offers borrowers a combination of title insurance, legal fee contribution, and rates from 0.66% per month. The product is ideal for purchase, refinance, and capital raise scenarios from £400k to £1m up to 65% LTV.
Roz Cawood (pictured), mnaging director of lending at StreamBank, said: “This deal brought together all the key ingredients that StreamEdge was built for. Tight deadlines, strong client profiles, and complex structuring. By working closely with the broker and using a flexible valuation strategy, our team turned around the case in record time without compromising on quality. It’s a brilliant example of how we combine speed with service to deliver for brokers and their clients.”
If you’re exploring bridging or development finance, get in touch and we can connect you with the right lender.
