Bridging loans under £500k: 10 bridging deals we completed in June
To see our latest bridging rates and offers, visit our intermediaries and rates page.
As the Stamp Duty deadline approached last month, we were working hard to deliver for our borrowers.
Here are just 10 of the deals we completed for clients in June, delivering quickly on purchases, capital raising for deposits and funding refurbishments before transitions on to long term loans.
Read more: 10 Buy-to-Let case studies in June.
Canterbury
Loan value: £494,572
LTV: 64%
Purchase of a bungalow before refurbishment and letting out. A repeat borrower who sold another property, their previous project with us, to support the purchase of this one.
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Aberdeen
Loan value: £475,000
LTV: 50%
Extra funds for local developers to cover associated costs on an 80 acre site valued at £12 million, with 4 separate planning permissions approved.
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Wembley
Loan value: £475,000
LTV: 75%
Purchase of a three-bed terraced house, for the purpose of carrying out a loft conversion and doing a back extension.
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Basildon
Loan value: £382,000
LTV: 75%
Purchase of property with plans to refurb and convert from 4 bed to 6 bed.
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Cambridge
Loan value: £341,250
LTV: 75%
To capital raise for the purchase of a semi-detached house which they intend to keep as a Buy-to-Let property.
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Sutton Coldfield
Loan value: £318,242
LTV: 61%
Bridge-to-Let purchase with intention to refurbish before refinancing to a Buy-to-Let loan.
To see our Bridge-to-Let rates and offers, visit our Bridge-to-Let page.
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Slough
Loan value: £249,360
LTV: 29%
Capital raise on a detached house for another investment opportunity.
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Altrincham
Loan value: £224,000
LTV: 70%
Purchase of a new property for a light refurbish.
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Southampton
Loan value: £201,000
LTV: 75%
Purchase of a property currently unmortgageable because of a low EPC rating, intention is to refurb the property and exit on to a Buy-to-Let mortgage.
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Birmingham
Loan value: £180,000
LTV: 75%
This deal was originally progressing as a Buy-to-Let with us, but the borrowers opted to purchase it with bridging finance before refinancing to term.
To see our latest bridging rates and offers, visit our intermediaries and rates page.