Case Study

First 4 Bridging complete auction finance case within days

THE CASE: We were introduced to a first-time landlord to raise a second charge loan against their main residence for a deposit on a BTL purchase at auction.

THE CHALLENGE: Probate had been granted and the property was now being sold at auction and needed to complete quickly.

THE OUTCOME: We were able to arrange both the second charge and bridging loan whilst still meeting the deadline.

 

Property Value:                 £605,000 combined

Loan Amount:                    £299,500 gross

Charge:                               1st & 2nd

LTV:                                       68% gross

Term:                                    12 months

Product:                               Bridging loan

Testimonial

“I can’t believe that we completed so quickly! So happy we chose First 4 Bridging.”

Ms O, Birmingham