Together completes £500,000 bridge in seven working hours

Together has completed a £500,000 bridging loan in just seven working hours from enquiry to completion in partnership with broker Finance 4 Business (F4B).

The deal came about when an F4B client feared that they would lose their £50,000 deposit after a late, legal hitch threatened their plans to expand via the purchase of adjoining land.

A longer-term facility was in place, but the client was in danger of missing the seller’s deadline due to a delay in returning searches.

However, F4B contacted Together who used the existing valuation and documentation to quickly provide the funds. 

The loan was instructed at 1pm on Thursday, with the funds released at 12noon the following day.

Marc Goldberg, commercial CEO at Together (pictured above), said: “Our team worked closely with the valuer, solicitors and F4B’s senior adviser Steve Court to make the funding available very quickly to secure the deal.

“It was a great outcome for the customer. 

“They may have lost their £50,000 deposit if they hadn’t met the deadline and the price of the land would also have increased. 

“This facility allowed the deal to complete on time, so the client could buy the land they needed to expand – at the agreed price – without any interruption to their business.”

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