• Firstly, we prioritised using a bridging lender that we had a strong relationship with who would take a comprehensive view of the two unique properties involved – they could handle the equestrian facilities and the high acreage
• We then contacted a standard mortgage lender to secure an agreement for the funds they’d need to refinance their bridging loan after the sale completed on their existing home
• This gave the bridging lender peace of mind that the clients could repay the bridge through a residential mortgage despite the high acreage
• Our broker also went the extra mile to get a mortgage agreement in place in the event that our clients’ property solder quicker than expected and they needed to move fast without the bridging loan, just in case

Success. Our clients were able to buy the new home at a cheaper price with their bridging loan because they were technically in a cash buyer position and didn’t have to wait for the chain to complete.

Once their existing property sold, we were there to help secure the longer term finance for their property and repay the bridge.

But this was a complicated mortgage application too.

• Our clients were self employed running their own IT company, and we had to use both their salary income and the company’s net profits to reach the mortgage size they required.
• The company was also growing every year and we needed to ensure the mortgage lender was comfortable with how the business operated.

Our mortgage adviser liaised with the clients and the mortgage lender to ensure they understood the potential of the company, their growth strategy and the sustainability of the company’s operations.

The mortgage we secured for our clients was:

• A £1.6m mortgage
• 2 year fixed rate term
• At a low interest rate of 1.24%

A mortgage rate that our clients were extremely pleased with!