Harry Dick-Cleland

Funding 365 provides £450,000 bridging loan in 24 hours

Bridging lender Funding 365 has completed a £450,000 bridging loan for a residential investment in north-west London in 24 hours.

The borrower — who intends to get the property tenanted before exiting on to long-term financing — required the funds to cover ongoing costs for the property renovation.

Due to time constraints, Funding 365 proceeded on a no valuation basis at 0.80% per month.

Harry Dick-Cleland, underwriter at Funding 365 (pictured above), said: “It was exciting to be involved in Funding 365’s fastest ever loan completion, beating our previous record of a weekend.

“Our unique set up combines a principal-led funding model with hands-on directors and a team of underwriters who deliver a cradle-to-grave service.”

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