Together has praised its specialist distributer partner First 4 Bridging (F4B) for its expert packaging of a commercial mortgage application – allowing the deal to complete in four hours.
A client, who is an NHS worker and commercial landlord from Birmingham, approached F4B to raise the finance she needed to expand her property portfolio in the region.
She wanted to refinance an existing commercial loan secured against a semi-commercial property – a shop with an upstairs flat in Oldbury, West Midlands – to provide additional capital of £105,230 to buy investment properties.
Knowing its reputation for providing finance quickly when needed, F4B brought the case to Together. The specialist lender’s underwriting team and in-house lawyers carefully reviewed the application and made an offer at 54 per cent LTV. The deal was completed in just under four hours – allowing the client to press ahead with her investment plans.
Sundeep Patel, Together’s head of intermediary sales, said: “This case was brought to us expertly packaged by our trusted partners at F4B just after 11am on a Friday and was funded by 3pm on the same day.
“The speed at which we were able to provide the finance highlights the benefits of working with experienced and skilled partners at F4B and in-house, which made the whole process run as smoothly as possible, meaning we could get the best possible outcome for their client.”
Myles Williams, CEO at F4B, said: “We had been managing the client’s expectations that the finance she was looking for would be available in 24 to 48 hours, so we were incredibly impressed that everyone at F4B and Together pulled out all the stops to get it over the line so quickly. The client was absolutely delighted with the level of service.”