The loan was secured against the client’s main London residence, valued at £7.25m, and completed at 55% LTV at a rate of 0.95% per month over a 12-month term.
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The funds will be used for the purchase of an investment property in north-west London, for which the client had already exchanged contracts and committed a deposit.
John Clifford, managing director at Central Bridging (pictured above), said: “With the client’s full co-operation, we were able to meet his exacting deadline with a little time to spare.
“I would challenge anyone to turn around large second charge loans, such as this case, quicker than us.”