Bridging Loans and Finance
Fast Property Finance to Purchase a Castle
Sometimes securing finance for a property that doesn’t ‘fit the mould’ can be tricky. High street lenders can be reticent to accept applications on period or listed properties, as well as unique constructions. However, as a specialist commercial finance brokerage, when a client recently came to us needing fast property finance to purchase a property that was both of these things, we knew we could help.
The Future King and Queen of a Castle
Our client approached us because his previous broker couldn’t secure a bridging loan and, as the client does not use computers at all, they needed some specialist help securing finance. The previous broker had encountered issues as lenders did not want to take on such a unique property in such a location.
So, what is so special about this property? Well, the client required a loan to purchase a rural house set in 24 acres of land in West Wales. On this land there were multiple outbuildings, as well as a historic motte and bailey castle.
What the Client Needed
Our client wanted to raise money to buy the property by applying for a bridging loan secured against their existing home. Once moved and the existing property is sold, they will repay the loan.
What We Did
We achieved exactly what the client needed. Our Head of Specialist Property Finance, Luke Egan, secured the finance that was required and the client has been able to make an offer on their dream property.