Bridging Finance Solutions (BFS) has successfully facilitated a £1.89 million bridging loan for a London-based client. This achievement marks one of the largest bridging deals for BFS in the fourth quarter of the year. The loan will assist the client, who had previously purchased and refurbished a property for investment purposes, with their financial obligations.

The client faced challenges in selling the property, with multiple offers falling through at the last moment. This situation was further complicated as the client’s existing loan was nearing its expiry. Although the original lender agreed to an extension, it required a minimum three-month term, creating a tight deadline for the property’s sale.

In an unexpected turn of events, the clients moved into the property, altering the nature of the loan to a regulated one. The BFS team, understanding the urgency and complexity of the situation, expedited their decision-making process. Their support was crucial in valuing the property at its current market price and considering the client’s position.

The timely arrangement of funds by BFS enabled the client to repay the existing lender, providing the necessary breathing space to secure a sale at the property’s true market value. This strategic move averted the need for a rushed, undervalued sale.

Andy Greenhalgh, Business Development Manager at BFS, highlighted the critical role of time in bridging deals. He emphasised the importance of giving clients the opportunity to regroup and facilitate a sale that reflects the property’s actual value. Greenhalgh also pointed out the significance of collaboration with brokers and professionals in the success of such transactions, underscoring the value of efficient decision-making and continuous communication throughout the process.