August 30, 2016
At Enterprise Finance, we're often able to provide funds for complex situations that others may not be able to. We've prepared this short case study about our Second Charge Bridging Loans to highlight one of the ways in which we can help:
A mortgage broker introduced a client to Enterprise Finance. The client owned a flat in central London. The value of the property was £900,000, with a £320,000 mortgage.
The flat had a 22-year lease remaining. With an extended lease, the property value would be increased to £1.5m for which the client needed £300,000.
The client could not remortgage using another lender due to the short lease.
Enterprise Finance arranged a Second Charge Bridging Loan for £300,000 for two months. Once the extended lease was in place, a £620,000 re-mortgage was easily arranged against a property value of £1.5m.
Click here for more information on how to get started with bridging loans.
This information is intended for professional intermediary use only and must not be distributed to potential customers.
Enterprise Finance Ltd is authorised and regulated by the Financial Conduct Authority. Firm Reference Number: 302964. Certain types of loans are not regulated, for example loans for business purposes or certain buy-to-lets. Enterprise Finance Ltd is registered with the Information Commissioners Office.
Registration Number: Z6765361 Enterprise Finance Ltd is registered in England and Wales. Company Number: 04440152. Registered Office Address: 3rd Floor, Premiere House, Elstree Way, Borehamwood, Hertfordshire. WD6 1JH.
This information is intended for professional intermediary use only and must not be distributed to potential customers