The loan consisted of a classic chain break bridge
Richard Deacon, sales director at Masthaven, said: “It’s always reassuring to get repeat business. We have worked closely with F4B on many occasions and the fact that we were able to help a client complete on a £1.6m loan on the back of a recent £1.4m deal shows that we are fulfilling a real need for a fast resolution.”
While this type of deal is a relatively straightforward one Deacon said it helped to illustrate just how important close working relationships between intermediary and lender need to be.
He added: “In the specialist lending circle, speed, backed by expertise, is the key to securing the right deal for the widest variety of clients.”
Myles Williams, chief executive at First4Bridging, said: “We deal with all sizes of loan, larger and smaller, but in this particular case it was not the size of the deal that was important, it’s the fact that the client got the resolution required and in possession of their dream home.
“Completions such as these highlight the benefits and flexibility attached to bridging finance especially when you have such strong relationships in place with lenders like Masthaven who work so effectively in helping to facilitate such deals.”