Lender supplies four day liquidity

Lender supplies four day liquidity


A leading bridging lender and specialist packager have teamed up to provide a client with a financial solution within a four working day period from application to completion – a marked contrast to the six to eight weeks that is currently the norm for a bridging loan.

The Watford-based lender, Cheval, received an enquiry form from Liquid Funding last Wednesday and was able to process the application with expert underwriting and diligence by the following Monday afternoon in order to meet the client’s tight deadline.

The £270,000 deal involved the borrower purchasing his brother’s interest in a property that had been left to them by their parents. The borrower had been given only one week to purchase the property, and his application was complicated by the fact that the brothers were estranged and the property had various restrictions and notices against it that needed to be satisfied.

Commenting on the case, Gavin Diamond, Finance Director at Cheval, said: “This case moved unusually quickly. While bridging is often associated with speed, in our recent experience deals are taking between six and eight weeks from initial enquiry to completion. However, when all the parties involved have a common goal, deals can get over the line at very short notice without any corners being cut.

“I’m proud of our team. They were set a tough challenge but passed with flying colours, which is yet another example of Cheval’s pedigree within the short-term lending space and our ability to deliver a market-leading customer experience.”

Jason Rogerson, Director of Liquid Funding, further added: “Cheval made sure that all bases were covered and they focused on the key issues to get the deal done - I don’t think they could have done any more to ensure that it completed in time.”

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