Lendhub have announced this week they have completed two bridging loans for one borrower. Collectively, the residential and development exit bridging loans totalling £1.4m will enable the borrower to purchase one property; a three bedroomed house in need of renovation with plans to extend and renovate whilst exiting the development and capital raising on the other. Both properties are located in New Malden South West London and will take our borrower, who is an experienced developer 5-6 months to complete, eventually exiting with a BTL Lender.
Both broker and borrower are new to the lender, introduced by Lendhub’s most recent joining BDM, Ashley Kendall who commented on the completion:
“Another perfect example of how Lendhub can make a complex transaction across two properties look straightforward for its broker partners & clients. By allowing the client to move quickly and secure the purchase from the vendor whilst being able to simultaneously raise deposit funds from another successful project.”