“Brad and the UTB team worked closely with Lightfoots, and everyone involved did everything they could to keep the application motoring”
– Benjamin Peace – Brightstar Financial
United Trust Bank (UTB) and Brightstar Financial have completed a £200,000 regulated second charge light refurbishment bridging loan to support a customer’s home extension and improvement works.
The clients were partway through significant renovations, including building a new garage and gym, creating a master bedroom suite, and adding extra rooms and storage. Construction was ongoing, with around four months left until completion.
Bradley Illman, key account manager – BTL & bridging at UTB (pictured), was approached by Benjamin Peace, bridging & development finance specialist at Brightstar Financial, to help secure fast funding. The customers wished to borrow £200,000 quickly to maintain project momentum.
With a substantial first-charge mortgage already in place and an expected finished property value of £4.25m, a standalone second-charge light refurbishment bridging loan was identified as the most suitable option. Dual legal representation by Lightfoots LLP also helped accelerate the application. The loan will be repaid through refinancing of both the first and second charge mortgages once the works are complete.
“UTB are a go-to lender for second charge regulated bridging and I was confident that they would offer a great solution and could complete the deal quickly,” said Benjamin Peace, bridging & development finance specialist at Brightstar Financial. “Brad and the UTB team worked closely with Lightfoots, and everyone involved did everything they could to keep the application motoring. My clients were delighted with the outcome, which kept their home improvement works on track.”
“Benjamin is a great broker who knows exactly what we need to make a fast decision and get a deal through quickly,” said Bradley Illman, key account manager – BTL & bridging at United Trust Bank. “This, combined with UTB’s expertise in regulated and second charge bridging, and between us all we delivered a solution which gave the customer exactly what they needed.”
Please visit:
Our Sponsor
