StreamBank has delivered a £454,790 bridging facility to support the time-critical purchase of a holiday let, structuring the deal against three properties in order to meet a strict two-week completion deadline.
The borrower, an experienced property investor based in the South West, was seeking to secure a high-yielding holiday let opportunity in a popular coastal location. Due to the fast-moving nature of the transaction and competitive bidding environment, they required a rapid completion with funding in place within 14 days.
To meet the timeframe and provide the required loan amount, StreamBank structured the facility as a multi-security loan secured against three residential assets, using a hybrid valuation approach combining desktop and AVM valuations.
Funding was delivered at 61% LTV at a rate of 0.74% per month, supported by a £1,000 legal fee contribution through the StreamEdge product.
StreamEdge offers borrowers a combination of title insurance, legal fee contribution, and rates from 0.66% per month. The product is ideal for purchase, refinance, and capital raise scenarios from £400k to £1m up to 65% LTV.
Roz Cawood (pictured), mnaging director of lending at StreamBank, said: “This deal brought together all the key ingredients that StreamEdge was built for. Tight deadlines, strong client profiles, and complex structuring. By working closely with the broker and using a flexible valuation strategy, our team turned around the case in record time without compromising on quality. It’s a brilliant example of how we combine speed with service to deliver for brokers and their clients.”
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