“This case is a strong example of where our 100% of purchase price product can make a real difference.”
– Rahul Sharma – DCI
District & County Investments (DCI) has completed a £390,000 below-market-value bridging acquisition at 100% of purchase price in under three working days.
The £390,000 purchase price represented a 33% discount against the property’s independent market valuation of £585,000, with the security coming from the client’s ownership of a three-bedroom maisonette in Northwood, Middlesex.
From instruction of solicitors to completion, the transaction progressed through the full legal process in just three days, with Slater Heelis acting for DCI.
The borrower is an existing DCI customer, introduced by a longstanding broker partner.
“This case is a strong example of where our 100% of purchase price product can make a real difference,” Rahul Sharma, business development manager at District & County Investments, said. “The customer had the chance to acquire a conventional residential property at a significant discount to its independent market value, and we were able to fund the full £390,000 purchase price.
“Speed was also key. From solicitors being instructed to completion, the full legal process took just three days, with Slater Heelis acting on our behalf. That level of delivery requires everyone involved to work closely and with a clear focus on getting the deal done.
“It was also good to support a repeat customer introduced by a repeat broker. Both value our ability to fund below-market-value acquisitions, and this case shows how a clear proposition, sensible security and experienced parties can result in a very quick completion.”
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