Shawbrook provides £500,000 second charge loan
Shawbrook Bank provided a £500,000 second charge loan after having been approached by CSC Loans.
The loan went to a client of CSC Loans who were concerned about a plot of land next to their current property that was intended to be purchased for commercial purposes.
The bank says that the case was funded within seven working days, and the product offered to the client was at 4.2% up to 65% LTV.
Emma Cox, sales director at Shawbrook Bank, said: “Due to the strong relationship we have with CSC Loans and the quality of their packaging, the case was able to complete in such a short period of time and the client was able to save their property’s value.
“This case shows how important it is for a broker to be able to speak to one of our underwriters.”
Mark Fry, managing director at CSC Loans, added: “The consequences for the applicants of not getting the loan were unthinkable.
“As a result, we wanted to work with a lender that we knew would look carefully at the complexities of the case on day one in order that we could iron out any potential issues at an early stage.”