Hope resolves multitude of issues with refinance bridge

Facility

£455,250

Loan Term

6 months

LTV

65%

Issue

The borrower had an existing facility with another lender, which had come to the end of its term so was looking for a refinance bridge with Hope Capital. Initially Hope Capital had looked to complete the deal within ten days but there were a multitier of legal and valuation issues which resulted in the properties being down valued which required the loan to be readjusted.

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“I just wanted to write to you to express our sincere thanks for all of your help with our clients re-finance bridge. When we raised the enquiry the key was always speed due to an urgent deadline that our client required, so knowing that you assisted in all areas to drawdown in a professional manner and as a broker you kept us informed all the way! We look forward to working with you on new cases in the near future.”

Solution

Hope Capital and the broker worked together to resolve the issues, aware that speed was of key importance as the client had an urgent deadline that he had to meet. Hope Capital managed to complete the loan just in time, preventing the draconian penalties that were about to be imposed by the other lender.

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Laura Carr

Laura is responsible for the effective and efficient running of Hope Capital’s underwriting department, ensuring that there is a strong relationship between brokers, borrowers and stakeholders. As with everyone at Hope Capital, Laura and her team are always accessible by phone and email to talk through a case.

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