A Bridging Deal Done in 4 Working Days – A LendInvest Case Study
Written by Michael Minnie
For property investors and landlords, a short-term loan can provide the crucial speed and flexibility needed to capitalise on market opportunities like auction purchases and refurbishments.
At LendInvest, we thrive on being able to cut the complexity out of Bridging deals, bringing technology, unparalleled expertise and end-to-end support to deliver successful outcomes.
A London Bridging Deal Done in 4 Working Days
Knowing that we can cut the complex on bridging loans, a broker approached LendInvest seeking to close a deal within a tight 7-day window. The broker’s client, an experienced landlord with a robust portfolio of properties, was seeking funding to purchase a property next to one of their existing properties near London’s Heathrow Airport.
The client intends to purchase the property, then carry out a light refurbishment that will take between 6 to 8 weeks to complete. They plan to exit the bridge with a LendInvest Buy-to-Let loan.
Our team jumped on this opportunity, and through a combination of our intuitive Mortgages Portal, access to underwriters and decision makers and offering AVMs up to 75% LTV, we were able to fund the sale of the property for a total of £378k at 70% Gross LTV.
We were able to complete the deal in only 4 days, and the broker’s client can move ahead with their project.
A Bridging Loan with LendInvest can Cut the Complex:
• AVMs up to 75% LTV
• Dual representation – one solicitor for both parties
• Lending off the open market value