The borrower wished to move out of the retirement fat he had been living in for three years to move into a three-bedroom house. In this case, a regulated bridging loan was the right option.
Greenfield recently completed a loan for a client who had a property chain that was at risk of falling apart.
Andrew Franklin at Greenfield Mortgages received an initial overview of the case from Tiara Hardy at John Charcol.
The client was able to use a large majority of his savings to fund the purchase meaning the LTV was 40%. Greenfield Mortgages were able to provide the short-fall of £125,000 the client needed to complete on the purchase of the townhouse whilst he waited for his current flat to sell.
Andrew Franklin BDM from Greenfield Mortgages said: “This case was extremely straightforward for us, on receiving the initial overview via email from Tiara it was clear from her succinct overview that it was a case we would assist with and terms were issued within minutes.
I love assisting clients in these types of scenarios as I understand how frustrating it would be to have found the perfect new home to then be restricted from completing due to not having a buyer for your current home.”
Tiara Hardy, Senior Specialist Lending Adviser from John Charcol: “It was my first case with Greenfield Mortgages and I am very impressed! Andrew and the team were approachable, available (a rarity these day…) and fast. We were incredibly impressed with the lender’s solicitors as well. I have complete trust in Greenfield Mortgages, they are customer focussed and reasonable, a real help to brokers, especially in this tough market. Thank you, Greenfield!”