Greenfield mortgages

Greenfield Mortgages completes £200,000 regulated bridging loan

Greenfield Mortgages has recently completed a £200,000 regulated bridging loan in collaboration with Positive Lending.

The loan was needed to obtain the remaining funds needed for the client to purchase their new home while they waited for the sale of their existing home to complete.

Nick Webb, specialist lending manager at Positive Lending, introduced the case to Alex Doveston, BDM at Greenfield Mortgages, and the case was underwritten immediately and terms were agreed on the same day. 

Greenfield — which secured a charge on the purchase property without having to take a charge on the exit — funded the loan on a 12-month term at a monthly interest rate of 0.65% and 64% net LTV.

“With the seller also in a chain, we had to act quickly and efficiently to get the chain back together to help facilitate a speedy and happy conclusion for all individuals involved,” said Alex.

“I am pleased to say we did this successfully within a short time frame.”

Nick added: “Alex and Greenfield Mortgages are a pleasure to work with, always going the extra mile to make sure the case completes and gets over the line in the quickest time possible.”

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