The bank was approached by one of its strategic partners, NM Finance, two weeks before the purchase was due to complete.

Shawbrook Bank worked with a valuer to ensure a valuation of the two-bedroom freehold property went ahead without a delay.

There were also some contract issues that arose the day before completion, as two land transfers were required on the same day. 

Shawbrook acted quickly to accommodate this with a transfer and completion of purchase between the sellers and the client, followed by a transfer and completion between the client and their company.

The £155,000 facility was secured at 75% LTV on a 12-month interest-only term.

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The customer plans to complete works on the property before refinancing onto a BTL mortgage.

Gavin Seaholme, head of sales for property at Shawbrook Bank (pictured above), commented: “Working closely with our partners to overcome challenges quickly and efficiently is essential in any case, but it’s especially important with tight timescales such as these. 

“This is a great example of working as a team to deliver the best outcome for the customer.”

Max Mace, director at NM Finance Ltd added: “This was a complex case with an aggressive timeline, due to auction purchase deadlines.

“As a strategic partner, we work with Shawbrook regularly, and from day one I knew this would be a good fit.”