The client, a BTL investor, required the facility to acquire a residential property in Westminster, priced at £1.1m.
The borrower required the funds quickly, as they were let down by their previous lender two days before their deadline to complete the purchase.
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The bridging facility was agreed at 60% LTV on a six-month term.
Vivek Jeswani, chief investment officer at Bridge Invest, said: “After conducting a site visit ourselves, we estimated that the value was the same as the purchase price.
“This is a record deal for us in terms of speed, and we are glad that our borrower did not lose their deposit.”
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