Our clients first contacted us seeking a bridge loan for the purposes of getting their offer through on the park home they had set their sights on. The scenario was this:

• They currently owned a residential property in Yeovil, which was later valued at £240k. This was to be their security when it came to the bridge loan. 
• They had recognised that in order to beat out the competition successfully, they would need to look to alternative means of raising capital, as awaiting a sale for their current property would take far too long.
• They had everything they needed in place in order to apply for a bridge loan – the exit strategy, and means of repaying the loan would naturally come from the eventual sale of their original property. 
• However, they needed our help in securing finance and guiding them through the entire process, and, most importantly, making sure they got a suitable lender offering favourable rates. 

There were, of course, a number of issues to overcome if they were to be successful. Hence why they came to us for help. 

The main concerns were:

• The time pressure – they only had so much time before the competition beat them to it. Our clients would have to have a bridge secure within 6 weeks. 
• The loan size – the loan amount they were looking for was £70k, which could be challenging when it came to finding a lender willing to facilitate this.
• Their security – there was a uniqueness to the property that would require an alternative valuation method. This could potentially cause delays or issues during the process. 

With all this considered, we set about helping our clients get the solution they needed to not miss out on their dream property.