Together

Together and Loan.co.uk close £190,000 bridging deal in five days



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Together and Loan.co.uk have completed a £190,000 bridging loan within five days.

The client required the funds to complete the purchase of a new home, after the sale of her existing property failed at the last minute, leaving her with only eight days to find another source of funding.

The borrower’s brokerage, SA Robertson Lifestyle Protection & Mortgages, referred the case to Loan.co.uk, which it accepted on the same day.

The deal presented some difficulties, as the client’s existing property was not held in her name, but a trust.

However, Loan.co.uk and Together were able to overcome the challenges, and the deal was completed before the client’s deadline.

The 44% LTV bridging loan was agreed at 0.59% on a 12-month term.

Andrew Ramsay, bridging loan adviser at Loan.co.uk, said: “Together was the best lender for the situation and it was hugely advantageous that it could accept an automated valuation.

“Together tends to be easy to deal with and no-nonsense, so we got all the paperwork to the client’s solicitor in three days. 

“Working with the solicitor and the underwriter, we also managed to transfer the property from the trust into the client’s name at the same time as registering the charge for Together. 

“Everything was in place and the drawdown completed on the fifth day.”

Sundeep Patel, director of sales at Together (pictured above), added: “This case just shows how important close relationships between brokers, packagers lenders and solicitors  are in getting the best outcome for customers. 

“We were very pleased that our team, including experienced expert underwriters, were able to help save this property purchase by providing a bridging loan so quickly, allowing this customer to meet their ambitions of buying their dream home.”

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