Bridging loan – Total loan of £58k
The situation: This client approached us for a small bridging loan of £50,000 for twelve months. This was to complete a new build four bedroom detached house on land which was owned by the clients family, which was wind & watertight.
The solution: Commercial Expert Ltd worked with a bridging lender who were happy to release monies to the client subject to the property been transferred for nil consideration into the clients names and all building regulations being met. The Property was transferred to the clients and all relevant building regulations signed off – on receipt of the certification funds were released to the client’s solicitor within 48 hours.