Bridging Loans UK
A long standing who worked for a large Swiss bank required a short term loan in order to make an imminent tax payment. Having searched extensively for a broker specialising in large bridging loans UK wide, the client presented their urgent query and we were delighted to assist. The borrower required a short term loan of £750,000 secured against one of his investment properties via a 2nd charge.
This particular borrower was a senior banker at a top Swiss Private Bank. He had some deferred bonus payments due which he intended to use as a method of repayment for the proposed bridging loan.
Problems To Solve
Due to the urgent nature of the lending query – we had to find a lender who could complete and draw down funds within 2 weeks. Within 24 hours of receiving the enquiry, we were able to agree lending terms with the borrower and instruct the valuation in quick succession. The lender we approached also had to be satisfied with the method or repayment being deferred bonus payments and a letter from the borrower’s employer was enough to satisfy the lenders’ loan repayment criteria.
Silver Oak Capital was able to source a lender based in London with the ability to draw down funds in the short time frame required by the client. This particular lender is one of the most active in the bridging loan London market with over £4 billion in loans issued to date.
2nd Charge Bridging Loan £750,000 GBP
Fixed Rate 1.00% per month
Term 12 months
Interest Rolled Up
Valuation and Legals completed within 2 weeks