Auction purchase saved at the eleventh hour


We wrapped up 2020 on a high note. Positive Lending introduced a case where a property had been purchased at auction. The property’s 28 day completion window had expired and an additional 10 day extension was granted to the client before they would lose the property.

On top of this, the solicitors advised the property could not be insured and the deal couldn’t complete within the required two-week window.

This combination of obstacles left the clients distressed and unhappy with the outcome. Greenfield Mortgages BDM Alex Doveston took matters into his own hands and sourced the exact insurance required, resulting in a relieved and happy client.
The £350,000 bridging loan was completed with just a £195 application fee and no packager fee.

Without the teamwork and thinking outside the box from both teams at Positive Lending and Greenfield Mortgages, the clients would have most likely lost their property.

To discuss your case and learn more about how Greenfield Mortgages, give our team a call on 0121 233 1188.

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