Shawbrook has announced that it has provided a £271,000 bridging loan to Vitae Investments Ltd, releasing equity from a property in Bexhill-on-Sea and securing the deposit for the borrower’s next purchase.
Vitae Investments Ltd faced a firm completion deadline and wanted a straightforward route to funding, with enough certainty to progress the transaction without delay.
Shawbrook worked with broker Clever Commercial Finance to structure the bridging loan. The lender offered terms the day after submission and completed within 10 working days of agreement in principle, three working days ahead of the borrower’s deadline.
An automated valuation model and the acceptance of a non-represented solicitor helped keep the process moving. The borrower also had direct access to the underwriter, while Shawbrook’s completions team provided close support, so both sides could resolve queries promptly.
The bridging loan released the equity, allowing Vitae Investments Ltd to progress its next purchase on time.
“Quite simply, the application to completion process was a breeze; the key factors that made the difference were the bank’s willingness to genuinely help, Kwok, the underwriter, who gave me his mobile number, and Dash in completions, who kept me up to date every day with an email or call,” said Marc Turner of Clever Commercial Finance.
“What made the difference was how little friction there was along the way: legals ran smoothly without a single hold-up, and every question was sensible, asked once, and moved the case forward,” noted Aksana Green of Castle Accommodation Ltd and Magnus Strom of Vitae Investments Ltd. “We have known Shawbrook for six years now, through several bridges and term loans, and that history clearly counted for something; they know us, and it showed in how the case was handled. This bridge saved our purchase.”
“By working closely with Marc and our internal teams, we were able to keep the process moving and provide the certainty needed to secure the client’s next purchase,” added Dylan Bleasdale, strategic relationship manager at Shawbrook.
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