Greenfield mortgages

Greenfield Mortgages completes its first bridging deal with John Charcol

Greenfield Mortgages has completed a £125,000 regulated bridging loan for the purchase of a three-bedroom townhouse.

The client wanted to move out of the retirement flat he had been living in for three years into the new home, but the property chain was at risk of falling apart.

The borrower was able to use a large majority of his savings to fund the purchase, which meant the finance was agreed at 40% LTV.

The loan covered the shortfall in order for the client to complete the purchase while he waited for his current flat to sell.

The case was introduced by Tiara Hardy at John Charcol, which is the first deal the two companies have collaborated on.

Andrew Franklin, BDM at Greenfield Mortgages, said: “This case was extremely straightforward for us; on receiving the initial overview via email from Tiara it was clear from her succinct overview that it was a case we would assist with and terms were issued within minutes.

“I love assisting clients in these types of scenarios as I understand how frustrating it would be to have found the perfect new home to then be restricted from completing due to not having a buyer for your current home.”

Tiara Hardy, senior specialist lending adviser at John Charcol, commented: “It was my first case with Greenfield Mortgages and I am very impressed! 

“Andrew and the team were approachable, available (a rarity these day…) and fast.”

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