Team worked around the clock to ensure completion within required timescale
An experienced property developer sought a bridging loan to complete the purchase of a hotel, this had exchanged and was on notice to complete in only 5 days.
Our regular broker discussed the case with us and confirmed that unencumbered security was available on a separate site; a recently completed development of a listed building in Eastbourne comprising of 1 house and 2 apartments.
A credit backed offer was issued within 3 hours at 70% LTV, instructing legals the same day. Our expert technology allowed the legal pack to be available within minutes, allowing the client to sign that day. In order to ensure completion, our team worked relentlessly, with decision makers available for early morning and late night calls.
Working together with the valuer and legal teams we ensured the return of the valuation report within 3 days and drew down the loan the following day.
This allowed the completion of the hotel, with the broker commenting “SDKA are impressive, with a hands on approach on getting loans completed. SDKA are quick, always answer the phone with smooth processes and good legal partners that support a fast turnaround”. The broker added that the client was delighted and will be returning with further business in the near future.