Objective
Our introducer’s client had purchased a property via a bridging facility. The planned exit strategy was to use a traditional buy-to-let mortgage to settle with the bridging lender.
Obstacle
The original lender declined the buy-to-let mortgage after receiving reports of previous flooding and that the property was at high risk of flooding in the future. It may come as a surprise to learn that the bridging lender was also providing the intended buy-to-let exit mortgage.
Outcome
Our award-winning team were able to secure the required funds via a specialist buy-to-let lender. This was achieved in time so that the client could repay the bridging facility before they entered the penalty period.
Subject to status. Product and criteria availability is subject to change or withdrawal at any time. For intermediaries only.
