Regulated Residential Loan, Berkshire

The Issue

The security was a detached dwelling with 40 acres of land and equestrian facilities. The mortgage on the property had moved onto the lender’s Standard Variable Rate (SVR), which put strain on the client’s finances and they were unable to refinance in the term mortgage market.

Challenges Faced:

The client’s need to redeem the long-term mortgage to prevent further financial strain.

Two significant base rate changes during the process.

The Remedy

Our commitment and dedication to helping brokers and their clients succeed, came to the fore and we provided a Regulated Residential bridging loan, which proved to be a lifeline for the client’s unique situation.

Key elements of the solution:

Rapid Response: The initial underwriting, valuation, and legal processes were advanced, leading to completion within three weeks.

The Outcome

The broker and client’s perseverance, combined with our tailored solution and support, led to a successful and swift completion.

Mortgage Relief: Our loan enabled the client to redeem the long-term mortgage that had fallen onto SVR, easing the pressure on their finances.

Property Marketing: With the financial freedom provided by our loan, the client was able to market the property strategically, ensuring they could secure the best possible price. Given the unique nature of the property, this approach was crucial in finding the right buyer and maximising its value.

Light Refurbishment: The new loan period, allowed the client to carry out light refurbishments on the property, ensuring it was in optimal condition for marketing.

This case illustrates how an Alternative Bridging loan, combined with perseverance and planning, can help clients overcome complex financial challenges and realise the potential of their assets.   It highlights the importance of our personalised financial solutions and experience in enabling clients through their brokers to navigate complex situations with confidence and achieve their financial goals.

Conclusion

This case study serves as a testament of our commitment to brokers and their clients.

By providing a specialised Regulated Residential loan and support, we enabled the client to redeem their mortgage and secure the best value for their property.   We are proud to be trusted in navigating complex cases, ensuring our client’s unique needs are met with success.

Quote from Broker ‘Henry Watkinson:

“I cannot commend Alternative enough for their outstanding service. Their team, particularly BDM Mike Halsey, showcased exceptional adaptability and a solution-driven approach throughout our clients’ transaction. Their dedication ensured our deal progressed smoothly, even amidst challenges. A truly professional and reliable lender. We look forward to our future collaborations.”