Bridging Solves Urgent Situation
Posted: 15/11/2016 / 10:22
Posted by: Kristian Williams
Mr M approached us because a lender had let him down at the last minute. He was due to repay a development facility and had 3 days to complete otherwise he would have incurred high default costs.
First 4 Bridging arranged the facility through one of our lender partners and completed within the time-scale that the client needed.
When the client came to us, a valuation had already been done on the property which the new lender was happy to have re-addressed and the client’s solicitor responded very quickly to the lender’s solicitor.
The Introducer dealt with the requirements of their client and received their broker fee in full. In addition, they also received 100% of the procuration fee that the lender would pay.
The Introducer was also paid from the High-Street Lender when he arranged borrowing on a longer-term basis