Turned around in 5 working days

An existing broker contacted us on a Saturday morning to assist their client who was now under notice to complete an auction purchase at 70% LTV. The purchaser trades from the property, however the bridge lender that they approached was unable to fund by the completion date.

The property consisted of office space to the ground floor, with planning granted to convert the upper floors to residential. The client intended to purchase the property to ensure that their already trading business could continue to trade at the premises. Furthermore there was a risk that the client would lose the deposit that they paid at auction if not completed within the next 5 working days.

The case was fully underwritten and legals were appointed by the Sunday afternoon, testament to our teams flexibility. The legal pack was signed promptly by the client and as we control our own funding we were able to release funds on the required completion date.

The facility completed in just 5 working days, and our team ensured the case was underwritten at the weekend to give the client comfort that SDKA would deliver.