Crystal completes complex second charge bridge
Crystal Specialist Finance secured a second charge bridge for a client needing finance for light refurbishment and moving costs.
The applicant’s father had recently passed away and she took state administration of his estate.
The property she had inherited however did not have her name against the land registry and probate was yet to commence.
Jo Breeden (pictured), managing director at Crystal, said: “This is another great case of bridging finance proving itself to be a solutions provider, but what is particularly pleasing is the Crystal team assessing the legal situation and formulating the application so the lender could make a quick and easy decision.”
Crystal requested to make direct contact with the solicitor who ultimately confirmed her as sole beneficiary and provided the additional assurance of having the property assented if required.
Wishing to upgrade the subject property and then be mortgage free once she had settled in and sold her existing home, Crystal proposed a bridge as it would allow the applicant to move into her father’s property whilst the other was sold.
A £60,000 facility was secured with Precise mortgages.
Alan Cleary, group managing director at Precise Mortgages, added: “We’re pleased that we were able to assist the team at Crystal to deliver the outcome needed for their applicant.
“It’s a great example of working together with our partners to deliver the specialist solutions needed by customers.”