Together completes regulated bridge in three days
By Theo OsbornTogether has completed a £25,000 regulated bridging loan in three working days
Section: Case Studies
The bridging lender worked with specialist distributor Clever Lending to fund a customer’s home improvements to boost the value of her home.
The 12-month loan, offered at a rate of 0.49%, also helped the customer to pay off £10,000 worth of existing credit.
It was secured against the customer’s unencumbered three-bedroom house, which is now on the market.
The house is expected to sell for around £270,000, which will allow the customer to exit the loan and move to another property which she owns nearby.
Nick Jones, head of specialist distribution at Together (pictured above), said: “This was a great outcome for the customer.
“After paying off all her existing credit, she has £15,000 to carry out improvements, hopefully adding to the value of her home.
“Clever Lending brought the case to us on a Thursday and it was so expertly packaged that it made it easy for our residential underwriters to provide the finance on the Monday, three working days later.
“This was a great example of when lenders work seamlessly with trusted partners to provide fast, tailored finance.”
Keywords: Together, specialist finance, specialist lending, bridging lender, bridge lender, bridging loan, bridge, regulated bridge, regulated bridging loan, regulated bridging lender, Clever Lending, specialist distributor