Standard Bridge for BTL property purchased at auction completed within 13 days
Castle Trust Bank has again demonstrated its ability to work quickly to complete a 75% Gross LTV Standard Bridge on a Hampshire property within 13 days. The client used an existing unencumbered BTL as security, in order to complete on the new BTL property that had been purchased at auction. Contracts had already been exchanged, so the funding was a matter of urgency.
George Antoniou & Alicia Randazzo at broker Bridge Finance Direct worked closely with Castle Trust Bank BDM Ryan Johnson to ensure that the case was processed as quickly as possible – which included a physical valuation, and the use of Title Insurance arranged by Lightfoots Solicitors to ensure any potential hurdles could be quickly overcome.
George said, “Our client had already exchanged on the property they had purchased at auction, so we needed a bridging lender that we knew we could rely on for fast and reliable service. Ryan and the support team in Basingstoke pulled out all the stops to make sure we completed within a tight timeframe, thanks to everyone who was involved in getting this case over the line.”