A £2.8m unregulated bridging loan enabled a commercial investor to complete the purchase of two tenanted high street shops in Newport, Isle of Wight, within just 11 days, avoiding the risk of losing a £270,000 auction deposit.
The loan, arranged by specialist broker EquityOne Finance Ltd, was facilitated through Together’s new Premier for Intermediaries service, designed to speed up complex, high-value transactions.
Auction deadlines create urgency
The client had successfully bid for two retail units at auction but faced a 28-day completion deadline without secured funding. Recognising the lender’s track record for speed and certainty of funds, EquityOne introduced the case to Together, which currently manages an £8.1bn loan book.
Together provided a 12-month unregulated bridging loan, secured against the Newport property and backed by an additional unencumbered block of tenanted flats in London. This arrangement enabled the client to complete the purchase well within the auction deadline.
How the Premier for Intermediaries service helped
The case was handled through Together’s Premier for Intermediaries service, launched in February and led by larger-loan specialist Dan Narwal. The service focuses on:
- Streamlining high-value commercial loan applications
- Delivering fast, reliable outcomes for brokers and clients
- Supporting complex cases with multiple security types
Dan Narwal, intermediary corporate account director at Together, said: “This is exactly the kind of case we created Together Premier for Intermediaries for. Across the industry, it’s common to hear that brokers get frustrated when placing million-pound-plus cases and stick to smaller, simpler applications. We wanted to change that with a service that streamlines the process and delivers positive outcomes for clients at speed.”
Broker perspective
Dale Robinson, director at EquityOne, highlighted the complexity of the case: “Dealing with larger £1m+ cases, you often expect a bit of delay and caution. Add in the tight auction deadline, a tenanted commercial property, and different security types, and this case was more complex than your average deal.
“The client had approached another lender, but the initial process was taking too long, and they weren’t convinced everything would be signed off in time. It was a risky move, being partway through a process, but they felt like they needed to explore other options. We decided that Together would be the best option.”
Robinson added, “It was a pleasure to work with the entire team at Together. Every interaction and process was clearly communicated and efficiently executed, from application through to completion and funding.”
What this means for commercial property buyers
The case demonstrates how bridging finance can provide crucial support for time-sensitive property purchases, particularly in competitive auction markets. For commercial investors:
- Fast access to funding can protect deposits and secure acquisitions
- Specialist intermediaries and tailored services help navigate complex cases
- Multiple security arrangements can be structured to meet lender requirements
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