Funding 365 has completed an £8.5m bridging loan in just three working days.
Funding 365 has completed an £8.5m bridging loan within three working days to save a borrower’s buy-to-let portfolio from being sold at auction.
The borrower needed to re-finance very quickly astheir high street lender had appointed an LPA receiver following a dispute anda number of its properties were due to be sold within days.
The loan, which was brokered by LINK Capital UK, was supported bysecurity over a portfolio of 16 commercial and residential properties.
Funding 365 managing director Mike Strange said: "We are very pleased that we were able to help the borrower retain ownership oftheir property portfolio and allow them the time to re-finance with atermmortgage.
"This is just anotherexample of the quick, tailored service that our broker partners have come toappreciate from us. Credit must equally go to the team at LINK Capital UK andto our solicitors whoworked above and beyond to complete this case within suchtight time constraints."
LINKCapital UK managing director Theo Kemp added: "As aprofessional finance intermediary we are always conscious of those lenders thatsay they can deliver but can’t as ‘computer says no’ or creditcommitteedeclines the case at the nthhour.
"Funding 365 is unprecedented in itsprofessionalism, speed and integrity - delivering what the customer requires ontime and at highly competitive terms - especially inthis situation with theborrower being in receivership. Mike Strange and Eddie Boakye worked extremely hardwith us and the customer to deliver a complex solution so quickly.
Funding 365 previously completed a £6.2m semi-commercial bridging loanwithin just 1 working day of agreeing terms with the borrower.
