Having been referred to us by a previous client, we were engaged by our client to raise funds against an unencumbered property within extremely tight time scales. The money was required to complete a purchase on a premium London off-plan apartment, within the agreed purchase date. Unfortunately our client was unable to unwind existing investments as quick as was hoped, and turned to us to find a viable and deliverable solution to plug this funding gap.
Taking into account the prime location and nature of our client’s other properties, we decided to use a new to market family office we had met a week earlier. The requirement for funds was needed within 10 working days, and we knew this would be deliverable given the lenders unique structure and their ability to make decisions and to deliver quickly.
Having raised funds across two unencumbered properties, our client was able to complete the purchase on time with no further cash required.
By constantly scoping the market for new lenders, we were able to quickly make a decision on the most viable route given this specific requirement. The £1,000,000 fund raise was met within the client’s tight timescales using a previously unknown lender. The greatly reduced timescales were deliverable due to the lenders tight company structure, taking only seven days from heads of terms to final drawdown.
Sean Crombie commented that “The ability to constantly refresh which lenders we have access to allows us a unique perspective on what is deliverable. We are always striving to be at the forefront of the property finance industry.”
Having delivered the funds required within the desired timescales, our client was extremely happy with not only the solution delivered, but our transparency from the very beginning of the process on what could be achieved, and the likely costs involved.
As a company we pride ourselves on a no surprises ethos, which ensures clarity as well as deliverability.
Should you have a time pressured requirement for funding, do not hesitate to get in touch with a member of the team.
Jamie Davidson | Loans over £10m and restructuring | Jamie@ConduitFinance.com
Andy Lawson | Loans over £1m | Andy.Lawson@ConduitFinance.com
Edward Page | Loans under £1m | Edward@ConduitFinance.com
Sean Crombie | Business Development | Sean@ConduitFinance.com
Mark Reidy | Business Development | Mark@ConduitFinance.com