The Watford-based bridger only received a completed enquiry form last Wednesday morning from Liquid Funding but managed to clear funds by Monday afternoon.
The turnaround is in marked contrast to the six to eight weeks that is currently the norm for a bridging loan.
The £270,000 deal involved the borrower purchasing his brother’s interest in a property that had been left to them by their parents.
The borrower had been given only one week to purchase the property and his application was complicated by the fact that the brothers were estranged and the property had various restrictions and notices against it that needed to be satisfied.
Gavin Diamond, finance director at Cheval, said: “This case moved unusually quickly. While bridging is often associated with speed, in our recent experience deals are taking between 6 and 8 weeks from initial enquiry to completion.
"However, when all the parties involved have a common goal, deals can get over the line at very short notice without any corners being cut.
“I’m proud of our team. They were set a tough challenge but passed with flying colours. Yet another example of Cheval’s pedigree within the short-term lending space and our ability to deliver a market-leading customer experience.”
Jason Rogerson, director of Liquid Funding, said: “Cheval made sure that all bases were covered and they focused on the key issues to get the deal done - I don’t think they could have done any more to ensure that it completed in time.”
