Situation: Commercial bridging to repay an investor.
A client approached us who needed capital to repay an investor who had lent them funds to buy retail units at auction. The deadline was fast approaching, and our client was let down by a lender at the last moment. They were at risk of reputational damage and needed a solution to address this.
Solution offered by Crystal Specialist Finance:
Since time was of the essence, we concluded that a bridging loan was the most suitable solution for our client’s requirements, and finding the right lender was crucial.
With access to an exhaustive panel of lenders and a detailed understanding of their lending criteria, we were able to find a lender who was willing to take charge on another property which was already mortgaged at 70% LTV.
The solicitors were instructed within 3 days and the customer was able to pay back the investor on time. Our thorough knowledge of lenders and their approach to specific scenarios meant that we were able to get the desired outcome for our client.