Quick crane refinance funds a property purchase

A director of a long established crane hire company wished to raise funds at very short notice to acquire a property that he had an opportunity to purchase. Due to the nature of the opportunity, funds needed to be available within 48 hours.

An existing crane that had a small finance balance outstanding was identified as having sufficient equity to secure the sum required. The finance proposal was received early in the morning from our broker partner, and, following an internal valuation and credit underwriting, an approval was relayed to our broker by lunchtime. Documentation was then emailed to our broker, enabling him to get the deal signed that afternoon with funds to be released the following day.

This was achieved and the existing finance on the crane was settled the same day. This enabled the customer to proceed with his property purchase with time to spare.

When speed is of the essence to complete a transaction, UTB go the extra mile to make sure that our brokers and customers get the very best service.

LOAN SIZE: £427,000