Category: Bridging
The deal involved legal teams in the UK, France and Switzerland, which is where the client lives.
The proposition is suitable for a wide range of landlords, including personal, limited company and HMO applicants, and offers ICR options to help with affordability.
Interbridge Financial Group has completed a £500,000 bridging loan in five days for a renovation of a flat in East London.
Y3S Bridging & Commercial has bought out competitor FTO Bridging Loans.
The lender, led by chief executive Chris Fairfax (pictured), started doing business with a handful of brokers as well as sister company and packager Positive Lending.
Mayfair-based bridging lender Market Financial Solutions has completed a £5.2m bridge at 60% LTV to an offshore client who experienced difficulties raising finance through traditional methods in order to clear their debt with an existing lender as they live abroad.
The six month loan was used to purchase a vacant office building situated in Surrey, with a view to converting it into 45 residential units.
Trade body for UK finance specialists FIBA has added overseas property and finance specialist, Simon Conn, to its expanding list of member benefits.
Aspen has just completed £50m with VAS Panel valuations within the last six months.
The rate will be available on loans from £250,000 to £25m, at up to 60% LTV over a loan period of six months to three years.