The loan was introduced by specialist property finance broker Top 10 Finance and given the time constraints, Funding 365 waived the valuation on thisoccasion.
Funding 365has completed a bridging loan in just three days to complete the auction purchase of a flat in North West London.
The loan was introduced by specialist property finance broker Top 10 Finance and given the time constraints, Funding 365 waived the valuation on thisoccasion.
Paul Weitzkorn, Funding 365 director, said: ”Funding 365 is known for itsspeed and service, but in bridging finance no-one operates in a silo and wecouldn’t work atthe speed that we do without our exceptional partners; ourlawyers, surveyors and brokers.
“On this deal it’s to our lawyers’ credit thatthe client’s lawyer commented,‘absolutely brilliant… to do this in three days isjust incredible’.”
Zara McDermott, Top 10 Finance, director, added:“I’ve worked with Funding 365 on dozens of bridgingdeals over the years and I always have complete confidence that theywill workwith me to deliver for my clients, even on deals with such tight turnaroundtimes.”
Funding 365’sshort lease bridging product has been designed to fill a gap in the market, forproperties with 10-70 years remaining on the lease and in this case the property had 37 years left. Interest rates for thisproduct start at 0.99%pcm, up to 70% LTV (100% with additional security).
