Jo Breeden

Together and Crystal complete £600,000 bridge in six days

Crystal Specialist Finance (CSF) has completed a £600,000 bridging loan with Together in just six days.

The rapid turnaround allowed the applicants to pay an inheritance tax bill to access a £5m property portfolio from their deceased father.

The customers, three sisters, applied for a longer-term facility from their introducing broker, however, due to the short time limit they had, a bridging loan was required.

Their broker turned to CSF, who then approached Together.

The specialist lender agreed to fund the three sisters after reviewing the case, with the exit strategy being a longer-term refinance.

The deal was secured against four flats on one title, which were valued at £1.8m.

Jo Breeden, managing director at CSF (pictured above), said: “This is a fantastic example of how bridging finance is adapting to meet varied market demands, and how the right distributor and lender can move extremely quickly to meet the best interests of the applicant in terms of loan size, term and exit strategy.”

Marc Goldberg, commercial CEO at Together, said: “Bridging finance can serve a wide variety of purposes and in this case, ensured the customers’ inheritance while the longer-term facility is put in place.

“Crystal Specialist Finance knows it can trust us to deliver in situations like this, where time is of the essence, and worked closely with our team at Together to provide the best outcome for the customer.”

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