The BridgeCrowd organises £900,000 loan for New York client
Peer-to-peer platform The BridgeCrowd has organised a £900,000 second charge loan for a client in America who needed it as quickly as possible.
The loan was secured against a luxury five star bedroom property in North London and was needed to repay an existing short-term second charge on a property as well as a HMRC bill.
The client needed to pay that second charge before its due date otherwisehe would have had to pay default fees.
He was in New York and high street lenders were unavailable outside of office.
The case manager organised consent from the first charge holder within just 48 hours when the service levels at the time were at 12 working days.
Louis Alexander, managing director of The BridgeCrowd, said: “Exemplary customer service is important to us and we pride ourselves on going that extra mile for our clients.
“We are always more than happy to be flexible and work to our clients’ individual requirements.
“Our case manager’s dedication and persistence in obtaining consent from the first charge holder so quickly is another example of the brilliant working relationships that we share, and we are very proud to have kept focus of what is important to us as we grow as a business.”
The BridgeCrowd was able to take a view on underwriting aspects withoutinsisting on the smaller details that other bridging lenders would demand.
Indemnity policies were taken out to cover long standing building regulations.