Lendhub has completed two bridging loans for one borrower, totalling approximately £1.4m
The £690,000 residential bridging loan and £700,000 development exit facility will enable the borrower to purchase a three-bedroom house in need of renovation, with plans to extend it, while exiting the development of a second property and capital raising.
Both homes are located in New Malden, south-west London.
It is expected that the client — an experienced developer — will take up to six months to complete the renovation and extension, with plans to exit with a BTL lender.
Ashley Kendall, BDM at Lendhub, said: “This is another perfect example of how Lendhub can make a complex transaction across two properties look straightforward for its broker partners and clients.”
