Swift Bridging Loan for Commercial Property Purchase
Overview
A borrower sought to purchase a commercial property in Bedfordshire, north of Luton, with the seller aiming to use the proceeds to fully redeem an existing loan with a mainstream bank. The property comprised two retail shops, both income-producing, occupied by established takeaway/food premises tenants, including one of the UK's largest takeaway chains, ensuring stable rental income.
Key Loan Terms
£240,500
65%
9 months
Commercial Property
Purchase
Approximately 6 weeks
What Made the Case Interesting?
The transaction required rapid completion due to the seller’s urgency to settle their existing loan. The property’s appeal was enhanced by its strong tenant base, with both shops secured by long-term leases, providing reliable cash flow and reducing investment risk.
Solution
Upon receiving the case, we promptly assessed the details and issued terms to meet the broker’s need for a swift response. Simultaneously, we initiated the loan process, maintaining close communication with both the broker and borrower to ensure a seamless experience. The deal was completed within the required timeframe, meeting the seller’s urgent redemption needs.
