The Challenge:
Liam came to us looking for funds to complete on his new dream family home. He had a standard residential mortgage agreed for his onward purchase and the remaining funds were going to be sourced via a Buy To Let mortgage on his current home.
The only problem was that this would take a few weeks to sort, and Liam urgently needed funds to complete within 2 weeks to benefit from the stamp duty holiday otherwise he’d lose out on thousands of pounds in savings.
Since the current property being refinanced was the Liam’s residential home, it would have been classed as regulated bridging which typically can take longer. He had however moved from the home and was temporarily living with family.
Solution offered by Crystal Bridging Loans:
While exploring all the options, we worked out that as Liam had two other investment properties with a good amount of equity which could be used as additional security.
Crystal Bridging Loans have close and trusted relationships with the UK’s best specialist lenders and were able to get the amount Liam needed pre-agreed and expedited.
The case was expertly and efficiently packaged and as a result Liam was able to complete before the stamp duty deadline, saving him thousands of pounds in tax which he could use for a brand new kitchen.
