Fairbridge Capital has completed three bridging loans for properties that required rapid financing.
The firm received an enquiry from a borrower in Middlesex looking for a loan to complete the purchase of a property to add to his investment portfolio.
The seller served the borrower with notice, meaning the purchase had to be completed in six days, or the investment opportunity would be missed.
Fairbridge was able to meet this deadline, and provide funding of £455,000 on the property worth £650,000.
Having received the initial inquiry on the 9th April, Fairbridge was able to streamline the process, by instructing the valuations and legals simultaneously on the following day, completing the loan in six days.
In addition, a borrower in Kingston-upon-Thames approached Fairbridge to refinance an existing loan as their original exit had not come to fruition.
The lender provided funding of £348,000 on a property worth £3,100,000, enabling the borrower to refinance the second charge holder as term expiry approached.
This also gave the borrower more time to work on their original business venture which in eventuality will repay this facility in full.
Finally, a returning borrower in East Kilbride hoped to complete the purchase of a commercial property.
Fairbridge provided funding of £1,851,120 on an industrial estate worth £3,275,000, comprising of 19 units spread over 12 acres, enabling the borrower to further expand his investment portfolio.
Dalian Gill, director of Fairbridge Capital, said: “Buying a property can be an unpredictable process, and not having funding at the right time can make securing the property you want seem impossible.
“At Fairbridge, we place an emphasis on finding solutions for borrowers where other lenders can’t, which sometimes means working towards an extremely tight deadline.
“Today’s deals are just a few examples of many cases where we have been able to complete loans at short notice, and facilitate the successful purchases of properties as a result.
“Brokers should always consider bridging loans as a tool to solve more complex cases like these, and we look forward to working with many more clients in the future to make their investment opportunities a reality.”
