BridgingNews

Crystal completes bridging loan for Ireland-based expat

Crystal Specialist Finance (CSF) completes a bridging loan for a development in Surrey belonging to an Ireland-based expat.

The daughter of the property owner contacted her broker explaining that her mother had moved in with her in Charlestown, County May as the father had recently passed away.

The property in Surrey was in the process of refurbishment to increase the value ahead of sale.

The relocation meant the incumbent lender required full repayment of the existing residential mortgage and the builder required extra funds to complete the work.

The broker contact Crystal who secured a £133,095, 12-month bridging loan through Together.

To ensure quick completion, the broker used the lender’s internal legals and a Hometrack valuation report.

Jo Breeden, managing director at CSF, said: “When it comes to specialist finance there is no luck, it requires a company who understands that for every problem there is an effective solution and a lender who is willing to understand the case.

“Nothing should ever be left to chance.”

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