The Ask
A broker approached us with a client who’d received a competitive offer from a high-street bank, but wasn’t convinced it could deliver what the client really needed.
This wasn’t a simple one-off loan; it involved multiple drawdowns, property works, and specific timings.
The clients were seeking £550,000 to repay a tax bill, purchase a plot of land for their future main residence, acquire a second development site for an investment build, and complete home improvements on their current property to increase its value ahead of sale.
The broker needed a lender who could not only match pricing but also provide a structured and staged funding solution that would work seamlessly for the client’s plans.
The Challenge
The borrowers required several pre-approved drawdowns so they could access funds at specific points in their project, including to fund works on their existing home before it was placed on the market. Timing and certainty were crucial as any delays or re-approvals would have disrupted both the refurbishment and the planned land purchases, so the broker needed a lending partner who could commit to that structure from day one.
The Fix
We issued full credit-backed terms the same day the enquiry was received. The offer confirmed approval for the planned use of funds and included a pre-agreed drawdown schedule tailored precisely to the borrower’s requirements.
Our team worked closely with all parties to agree on competitive pricing and, crucially, to give upfront certainty around the use of funds and timing of each release.
In 8 weeks of terms being issued, we delivered a regulated second charge bridging loan, priced at 0.90% per month with a loan-to-value of 53%.
The Benefit
The regulated bridging loan gave the clients the immediate capital they needed to clear their tax bill and begin refurbishment works on their home, improving both its saleability and value ahead of the planned sale. With drawdowns already approved, they were also able to complete the purchase of the two new plots of land, meeting every objective set out at the start of the process.
If your client needs a lender that can structure a bridging loan around multiple purchases and purposes, get in touch with the Masthaven Finance team today – we’re ready when you are.
