Helping to realise an ambitious change of plan

Facility

£225,000

Loan Term

6 months

LTV

56%

Issue

Sometimes plans can evolve mid-project, and a bit of extra flex is required. With this deal the client was in the process of purchasing some land which already had planning permission for a four-bedroom home. But they wanted to tweak the application to include another dwelling, which would increase the value of the site and the complexity of the whole process.

 

By creating delays to the valuation, everything was suddenly up in the air. But that’s when we’re at our best.

Solution

By speaking with the valuer, we were able to draft a report to let the legal work carry on. Since the client’s solicitor wanted to make some amendments to the paperwork, we set up a video call with all parties to get everything dealt with in one hit and ensure everyone was on the same page. A little transparency goes a long way, and by the end of the call we could all see the finish post.

Result

Our commitment to using transparent communication channels helped to simplify the process and make sure the purchase was completed on time. The sale was secured, and there were no unpleasant penalties incurred either.

“Thank you for completing this quickly and efficiently.”

John Mansel, Advanced Funding Solutions (Synergy).

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Wayne Lee

Wayne is responsible for developing new business across the North of England. He has worked in financial services for approximately 20 years, is a specialist in mortgage and bridging finance and has handled bridging finance deals from start to finish through private funders throughout his career.

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