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Client: Experienced Property Investor
Location: Redland, Bristol
Loan Amount: £525,000
Term: 6 months
Loan Purpose: Auction acquisition
LTV: 70%
Exit Strategy: Buy-to-let remortgage
The Challenge
Our client, a well-established property investor, had won a Victorian terrace at auction in Bristol’s desirable Redland area. The property, partially tenanted and undervalued, offered strong rental yield potential. However, the investor needed to complete the purchase within 21 days, a deadline conventional mortgage lenders could not meet. Additionally, the property required light refurbishment to meet EPC standards, making it unfit for traditional lending in its current condition.
Our Solution
BridgeLoanDirect stepped in swiftly. Within 48 hours of the initial inquiry, we arranged valuation and instructed solicitors. The property was valued at £750,000 with a target purchase price of £525,000. A bridging loan of £525,000 was approved at 0.89% interest per month, rolled up to reduce monthly outgoings.
The bridging loan was secured against the property only, with no additional collateral. Due diligence was expedited using the auction legal pack, and funding was released in just under 12 working days.
The Result
The client completed the purchase well ahead of the deadline, carried out the required EPC-compliant upgrades, and increased rental income potential by 20%. Within four months, a buy-to-let remortgage was secured based on the uplifted value, allowing the client to repay the bridge loan and release equity to fund their next auction bid. This deal exemplifies our ability to deliver reliable finance on a tight schedule, enabling investors to act decisively in competitive markets.
