Case Studies
Whilst some of our loans simply help clients to buy residential or commercial property pending sale of another property or asset, many loans are required for other reasons as highlighted in the case studies below:
Case 1 – auction purchase and refinance
Our client wanted to refinance his existing loan and purchase another property quickly. The existing lender was unable to act in time, and our client needed an agreement in order to give him the comfort to bid at auction.
We gave an immediate “in principle” decision and obtained the necessary professional valuation within three days, giving our client the necessary comfort to allow him to make a sufficient bid to purchase the property. The existing loan was refinanced, and we took the two properties as security, allowing us to provide our client with additional funds to complete some refurbishments.
Case 2 – land only
Our client had secured outline residential planning permission for a site he already owned and wanted to purchase an adjacent residential property to secure the site’s access points.
We were able to provide sufficient funds to allow him to purchase the property and also provided an additional amount to allow him to start the initial development work.
Case 3 – repaying Director’s Loans
Our client wanted to repay his Director’s Loans before his company’s
financial year end and needed to complete within five days. An offer
letter was delivered within 24 hours and, following completion of a
valuation, the funds were made available with a day to spare. This
facility was secured by way of a second legal mortgage over his residential
property.
Case 4 – development land
Our client wanted to purchase a property, enhance the existing outline planning permission and sell it on. A six-month facility was agreed and funds were provided to assist with the purchase and initial development work. Our client has now secured detailed planning permission and sold the property for a profit.
Case 5 – working capital
Our client had received a large order from a blue chip company which they had been trying to do business with for a long time. The order needed to be completed quickly and they needed to source additional product. Our client’s bank said they were unable to help in the time-frame, despite having a first charge over a quality residential property. We were able to provide the finance in the time-frame needed to honour the contract secured by a second charge on the property. The client has since re-banked.
Case 6 – property investor
Our client is a highly regarded investor who sometimes needs to act within hours to secure certain properties. To assist the client in growing his business/portfolio we have taken a second charge on part of the client’s investment portfolio which allows the client to drawdown funds immediately.
