At largemortgageloans.com we’re familiar with unusual circumstances that can sometimes impact standard lending criteria. We’re frequently approached with complex cases that are time sensitive or that can be difficult to place. However, we have over 17 years’ experience and relationships with lenders that can often lead to a successful result. To discuss this or any other large or complex mortgage case, please contact us on 020 7519 4984 or email us.
largemortgageloans.com was approached by a client wishing to purchase a plot of land. Located in the midlands, this plot had potential planning permission and was listed for sale at £9million. With the planning permission in place, they wanted to convert the plot into a high-rise apartment building with a future market value of over £150million.
In order to do this, the client required a bridge loan of over £5million to secure the plot of land.
Associate Director, Mark Pattanshetti, was able to source a lender who offered excellent terms for the client’s requirements. They was based on an 18 month term, on the market value of the plot.
What’s more, the lender realised the urgent nature of the transaction and was able to release funds within 3 weeks.
Your home or property may be repossessed if you do not keep up repayments on your mortgage.
The Financial Conduct Authority does not regulate some aspects of bridging finance.