Quick Completion of Auction Purchase with Bridging Finance

The Requirement:

A client acquired a property through an auction, with the condition that full payment was to be made within 28 days of the purchase. Although the client had sufficient funds to complete the transaction outright, they opted to utilise bridge financing to cover part of the purchase.

The Interesting Stuff:

Given the urgency of this transaction, which required prompt completion, our options for funding were limited. Aware that obtaining a new survey would cause delays, we chose to work with a trusted lender offering an Automated Valuation Model (AVM) solution. Shawbrook was able to utilise their AVM product, allowing us to successfully complete the transaction within just 19 days.

How we helped:

Leveraging our expertise, we were able to identify the most suitable product for our client from the outset. This not only saved valuable time but also ensured a smooth and efficient transaction from start to finish.