Going a little further can be the difference between delivering a good service or a great service.
We were approached by Bradley Moore, Deputy CEO at Brightstar, with clients wishing to borrow a £505,000 unregulated bridging loan at 75% LTV to purchase and improve a 4-bed detached house in sought after Leigh-on-Sea with a purchase price of £790,000.
The clients were a real estate investment and development company which had identified an opportunity to purchase a tired family house, lightly refurbish it to a good letting standard and add it to their growing BTL portfolio.
With a physical valuation required for the loan, we ensured the valuer was instructed on the same day and we collected all the necessary documents from Brightstar in person to keep the deal moving quickly and smoothly.
The purchase completed on schedule, and following an eight-week, £50,000 programme of improvement works, the borrower was ready to exit the bridge by refinancing to a buy-to-let mortgage before moving on to their next acquisition.
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