The client owned a Detached Farmhouse with connecting land with a reclamation yard and 4 redundant hen houses/
However, with his current bank, he had a dispute which resulted in the bank demanding full settlement.
The high street bank also demanded the outstanding loan, because of the adverse credit registered against the client. For this reason the client could not get any finance agreed.
The client was asset rich but cash poor and therefore we sourced a Bridging lender to lend at 65% to 70% LTV, despite the adverse credit history and the threat of litigation from the bank. We raised £480,000 and completed in 4 weeks.
N & T’s funding solution stopped the bank from repossessing his property and now the client has redeveloped the site into 9 luxury detached house with a Gross Development Value of £7,000,000.
Look no further than N & T Consultants Ltd to help your business with a bridging loan.
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