Customer saves £70k thanks to our one-day turnaround.
Delivering a bridging loan in just one working day, we were able to save a customer £70k by avoiding renewal fees and charges with their previous lender.
|Bridging loan||£942,590||12 months||Dolphin Loans|
The customer had turned to broker Dolphin Loans and Mortgages to find an alternative bridging finance provider with just three days left on their existing facility. They faced a hefty renewal fee plus penalty charges totalling £70,000 if they couldn’t move the loan in time.
Knowing Together’s reputation for speed, Dolphin Loans presented the case to us and following a review of the application and valuation of the property - a prime London mews - we agreed the full amount requested of £942,590. The funds were delivered just one working day after receiving the application, allowing the customer to pay off the existing loan without any costs incurred.
Jerry Matthews at Dolphin Loans said: “Together ticked all the boxes with regards to loan-to-value, interest rate and minimal cost for the facility the client required. Together boasts vast experience, a common sense philosophy, autonomy over the final lending decision and independent solicitors who are on hand throughout. They are without doubt the best in the business when it comes to bridging.”
Although we endeavour to lend within the shortest possible timescales, this is not always achievable in 100% of cases.