skip to main content

Request a call back

Leave your contact details and one of our expert advisers will call you back shortly.

You can also complete our mortgage questionnaire for a more accurate initial response.

Please note, by submitting this information you have given your agreement to receive verbal contact from us to discuss your mortgage requirements.

Menu
Archives

2018

2017

2016

2015

2014

2013

2012

2011

2010

2009

show more show less

Bridging loan, £1 million bridge on snooker hall.

Case details

Our client asked for help to secure a £1.2 million bridging loan in order to complete on a development site in London.

He had already exchanged contracts and was under pressure to arrange finance in order to complete the purchase.

There was also the added difficulty that the property did not have planning permission to be converted into luxury flats.

Solution

Many of the bridging companies were not keen to lend against a property without planning permission, although we found a handful of providers willing to help.   

As our client had a proven track record of gaining planning consent on properties in London and history of developing them, the lenders looked at the borrowing request more positively.

Property: Site in central London

Value:  £2.2 million

Bridge: £1.3 million

Rate: 1% per month of the total facility until it is repaid

Lenders arrangement fee: £19,000

Term: 12 months

Loan-to-value: 60%

Early repayment charge: None

The actual rate available will depend on your circumstances. Please ask for a personalised mortgage illustration.

If you would like help to secure a bridging loan, call Trinity on 020 7016 0790.

Get in Touch

Get in touch

To arrange a meeting with one of our expert mortgage advisers complete our enquiry form and we will call you back. Please note, by submitting this information you have given your agreement to receive verbal contact from us to discuss your mortgage requirements.

Need some advice today?

Book a Consultation Mortgage Questionnaire