Case study: Regulated bridging deal completed in 10 days
To be within a chance of winning one of our Starting Faster prizes, submit a bridging application in the portal in January. Full T&Cs here.
Location: South London
Loan amount: £273,000
LTV: 72.73%
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A broker approached us on behalf of a client looking for extra money to repay an existing facility and help purchase their new home.
They had a £98k first-charge mortgage outstanding with a high street bank they wanted to repay before using £168,000 to fund buying their new home.
To do this they requested a regulated bridge on their residential property to raise the required funds.
They were going to list their current property in January 2023 after they did a light refurb.
Victoria Barnard, the BDM who worked on the deal, explained how she and the team delivered it for the broker and their borrower in 10 days:
“Because of how quickly the process works, this really followed the formula of all of our deals submitted through the portal.
“After the initial enquiry we worked with the broker to get the full application through and then kept an open line of communication with the underwriting team to support them if necessary to get the application complete, which they were able to do quickly.
“What’s exciting to think is that with AVMs now embedded in the portal, these kind of deals will get faster and smoother for brokers and their clients.”
To be within a chance of winning one of our Starting Faster prizes, submit a bridging application in the portal in January. Full T&Cs here.
LendInvest plc is a public limited company registered in England and Wales (No. 8146929). Registered Office: 8 Mortimer Street, London, W1T 3JJ.
LendInvest Loans Limited is a company registered in England & Wales with Company No. 09971600.
LendInvest Loans Limited is authorised and regulated by the Financial Conduct Authority (FRN:737073). LendInvest Loans Limited is a wholly owned subsidiary of LendInvest plc.
Borrowing through LendInvest involves entering into a mortgage contract secured against property. Your property may be repossessed if you do not repay your mortgage in full.
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