Case Study 1
Auction Finance for a Time-Sensitive Purchase
Client Information
Client
Mr. Singh, an experienced real estate investor
Location of Property
500 Great West Road, London, TW5 0TE
Opportunity
Secure a £1,000,000 property at auction for renovation and resale
Challenge
Tight auction deadlines, completion within 28 days). Client has invested in several other projects hence the cash tied up and auction Finance is required.
What Was Needed?
Loan Type
Bridging loan (Auction Finance)
Security Type
Residential house
Purpose of Loan
Purchase and renovation
Loan Amount Required
£750,000
Maximum LTV Achieved
75%
Solution Breakdown
We provided Mr. Singh with a tailored bridging loan solution to meet his specific requirements. Here’s how we helped:
Key Details of the Loan
Loan Type
Bridging loan (Auction Finance)
Loan Amount
£750,000
Term
12 months
Rate
0.75% per month
Repayment Plan(Exit strategy)
Sale of the renovated property
Property Details
Address of Security
500 Great West Road, London, TW5 0TE
Description
3-bedroom Semi- Detached house
Purchase Price
£1,000,000
Current Value
£1,000,000
Charge
1st charge only on the security property.
