Lendhub have completed a £550k residential bridging loan within five working days, saving the client’s connected purchase from falling through.
The deal was introduced to the specialist lender by a broker it had not previously worked with, with a non-negotiable five working day deadline after the borrower encountered delays in completing a buy-to-let mortgage in the required timescales, leading to the borrower being served notice from the seller on a connected purchase.
The challenge was accepted, and the Lendhub team with their associates from Copping Joyce and Lawrence Stephens worked tirelessly to get the deal over the line.
The six-month bridging loan was secured against a nine bed HMO at 75% LTV in East London and completed within the given time frame, saving the borrower from having to face the consequences of missing the notice deadline.
Asim Shirwani, Chief Commercial Officer, commented: When accepting deals of this nature, we have to be 100% confident that we can deliver exactly what and when is required for the borrower and we are extremely proud to have done just that. This deal is a great example of what we can do when time is of the essence and teams come together to deliver excellent customer service and outcome, I would like to take the opportunity thank all those involved in making this happen.