In the fast-paced world of property auctions, timing is everything. A recent client faced a daunting challenge when her initial funding for a dream residential property fell through, leaving her just days away from potentially incurring daily charges due to missed completion dates.
Clever Lending’s Matt, whose expertise in regulated bridging finance turned a potential financial disaster into a triumphant success story. This case study delves into the intricacies of securing bridging finance under tight deadlines, showcasing the power of collaboration, swift action, and innovative solutions like Automated Valuation Models (AVM) to achieve remarkable outcomes.
Join us as we explore how Matt and Together Money navigated the complexities of the situation to ensure a seamless transaction, highlighting the value of professionalism and efficiency in the lending industry.
Case Study
| Lender | Balance | Payment | Rate | Product | LTV | Term | |
| Regulated Bridging Finance | Together | £91,866.42 | N/A | 1% | Regulated Bridging Finance | 65% | 12 months |
Enquiry
This case was introduced to Matt to give advice to the client for a regulated bridging. The client purchased her new residential property at an auction and her initial funding arrangement fell through 5 days before the final completion day of the auction terms. The client was introduced to Matt with 4 days to go before completion or the client would face a daily charge for any days after the final completion date. The exit route will be a residential re-mortgage.
Solution
Matt placed this case with Together Money using an AVM valuation to speed the case to completion as quickly as possible.
- Monday 4th March at 2pm called client and completed factfind and ran an AVM valuation which had a confidence level of 6.
- Tuesday 5th March fully submitted the case to Together.
- Thursday 7th March the case completed, and the client did not incur any additional auction house charges.
This was only possible through all parties working together with the same goal in mind. This is proof when likeminded professional, efficient and knowledgeable colleagues work together can achieve great things.
