Situation: Term expired, stopped repossession.
Robert and Elaine came to us after finding their holiday let had gone over term on an existing buy to let mortgage.
As a result, the lender required the funds back and were looking to take possession of the property. Robert and Elaine originally thought they had more time to get this sorted but it came to light that they only had 2 weeks to complete causing a great deal of stress and anxiety.
The property was worth £325,000, they had £195,000 outstanding.
Solution offered by Crystal Bridging Loans:
We understood the distress they were both facing and quickly found a suitable and reliable lender that could get a surveyor out to the property and complete in the restricted timescale.
We also helped lighten the couple’s load by liaising with the existing lender and solicitors to ensure all relevant parties were working together effectively.
Our deep understanding of the lender’s timescales and processes, paired with our strong and trusted partnership with them, meant the packaging requirements were completed on time, and importantly, with positivity and excellent customer service.
The solution meant that the Robert and Elaine got to retain their holiday let and it continued to provide them with an additional income in their retirement.