Alternative Bridging Corporation provides £1.5m bridging loan for buy-to-let investment
Alternative Bridging Corporation has provided a sizeable bridging loan so a client could quickly take advantage of a buy-to-let investment opportunity.
The borrower needed £1.5m to secure an investment property in Woodford Green, Essex. The case was introduced to Alternative Bridging’s business development manager (BDM) for the region, Taylor Osunsedo, and after studying the application, underwriter Kalpna Patel was able to issue an Indicative Loan Offer immediately.
Thanks to all parties working together and to the hard work of case manager, Divya Patel, drawdown was achieved at the end of March, in a total of 10 working days from Alternative Bridging first being contacted.
The specialist lender provided a first charge bridging loan at 75% loan to value (LTV).
An addition bonus for the broker was that the case was eligible for Alternative’s 30th Birthday Celebration Offer, which consisted of a ‘double procuration fee’ for loans introduced during the lender’s birthday week.
Jonathan Rubins, director at Alternative Bridging Corporation, said: “We are a committed, service-driven lender and recognise the input of our introducers, valuers and solicitors without whose co-operation we cannot fulfil this promise. Here teamwork proved that delay need not occur where all parties are dedicated to the common cause.
“A happy birthday for us and double proc fee for our introducer!”