Central bridging

Central Bridging completes £2.1m second charge bridging loan

Central Bridging has provided a £2.1m second charge bridging loan in eight working days.

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.

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.”

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