Affirmative provides £161,000 bridge to support auction purchase

Affirmative has provided a bridging loan for an auction purchase which needed to be completed within 11 days.

The bridging lender released terms the same day it was approached and completed the valuation and legal documents in less than a day after receiving the go-ahead.

The property – in Palgrave Gardens, north-west London – was bought for £465,000 with Affirmative providing a bridging loan of £161,000.

The customer – who had an 11-property portfolio – had originally planned to use a mortgage on their buy-to-let property, but found this method too slow.

The broker was delighted with the speed at which Affirmative provided the funds.

John Hutchings at Barr Financial Services said: “My customer found themselves with a very tight deadline to meet.

“However, Katie [Devine] and the Affirmative team were able to meet every deadline set to them.

“They made what was potentially a very stressful case into one that went through very smoothly keeping me up to date the whole way.

“I can’t thank the Affirmative team enough for their assistance.”

Katie Devine, senior underwriter at Affirmative, added: “We’re very proud that the customer and Barr Financial Services are happy with our service.

“Every single member of the Affirmative team plays a vital role in ensuring that customers receive the very best service during the loan process.

“Our priority is to always meet the needs of the customer to the best of our ability, that’s the Affirmative way.

“It was a pleasure working with Barr Financial Services to ensure the customer got what they needed.”

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