Dieter Kerschbaumer, Asset Finance Advisor at Arc & Co., has completed a bridging loan for the purchase of an auction property in Devon in just 15 working days.
The borrower, who is 75 years old, bought the asset to refurbish and sell for a profit.
Dieter worked closely with the client to find a specialist lender who not would not only act fast but was comfortable with the age of the borrower—something which not all funding providers can get behind.
In addition, the chosen lender—a private bridging funder which is known for being very hands-on—included the legal costs associated with the facility in the loan, saving the client upfront fees.
The 65% LTV loan is for 18 months and priced competitively at 0.79% pcm.