Alburys Financials is pleased to announce the completion of a £1M Bridging Loan on a Basement and Ground Commercial Unit in East London.
THE SCENARIO
Our Client was the Director of a successful construction company in London.
The property being purchased was the basement and ground floor of a newly constructed tower block in East London.
The purchase price was £2M+.
Our Client required the facility to purchase and hold the property while enhancing the planning before either refinancing onto a commercial investment loan or selling for a profit.
Essential requirements were speed, ability to buy while vacant and to refinance or sell with no exit penalties.
OUR SOLUTION
Purchase Price £2M+
£1M Gross Loan
9.6% pa
9 months term
2% Arrangement Fee
Interest - Fully Retained
Exit - refinance or sale
These are details of a previous deal we have helped our Client with. Any rates or terms expressed in this case study were specific to those clients’ circumstances and may not be available now. Therefore, any terms or rates offered to you may differ and will be subject to status.
If you have any questions or wish to discuss any funding requirements, please don't hesitate to contact us. We'd love to hear from you.