Commercial Bridging Loan £1.3m

Commercial Bridging Loan £1.3m to acquire a 10 storey office block bought speculatively by our client an experienced Property Developer and Portfolio Landlord. PCF felt that the original Lender was taking too long with their due diligence and the decision was made to switch Lenders to ensure that the purchase completed on schedule and in so doing protect our client’s deposit. The Developer is liaising with the local Planners to secure a change of use to residential. PCF remain on standby to arrange the construction finance or subject to timelines refinance the bridging loan onto term debt secured on another asset held by the borrower.

The client commented as follows:

‘My belief has always been that a good accountant or professional advisor is worth their weight in gold. I am very happy that you went well beyond the norm to get me the deal. I have no doubt that in the very near future  I will be approaching you guys for further projects and finance’