Greenfield Mortgages completes regulated bridge in eight working days
Greenfield Mortgages completed a regulated bridging loan in eight working days.
In the busy lead up to Christmas, Greenfield was approached by Mark Steinle at Knight Frank Finance.
Knight Frank was marketing the client’s current home which was a four-bedroom detached house on a private estate, which had been sold, but the sale fell through at the last minute.
Greenfield Mortgages’ worked with its team at ESN Solicitors and the client’s solicitors at Mundays LLP to complete work within eight working days which was in time for the completion date on 20 December.
Andrew Franklin, business development manager at Greenfield Mortgages, said: “I was thrilled to assist with such an urgent case and deliver the funding required within the short timescale.
“Mark introduced the case over the phone initially with an extremely detailed overview and had a full understanding of the scenario, properties and client.
“Mark kept in close contact with myself throughout the whole process taking an active role which ensured the case progressed to completion in a timely manner.
“This type of scenario is truly what bridging is for.”
Mark Steinle, mortgage and protection consultant at Knight Frank, added: “Andy installed every confidence in me from the beginning that Greenfield Mortgages could meet my client’s tight deadline.
“Despite a couple of small legal obstacles, Andy and his team pulled off a Christmas miracle and made a client very happy.
“Given the complexity of this case, the time of year and short timeframe, Andy and his team have impressed no end.”
Terms were quickly agreed for a regulated bridging loan covering the full purchase price of the client’s new home with the current home used as additional security.
Greenfield received a commitment from J Raymond Welch Surveyors that the tight timescales could be met to complete the valuation.
Within 24 hours, valuations were fully approved and legals were instructed immediately.
Arwel Griffith from J Raymond Welch Surveyors said: “We were delighted to be of assistance in this case which was very testing.
“J Raymond Welch Surveyors Ltd is always up for a challenge and we will always do our very best to deliver high quality valuation advice on time whatever the timescales required.”