Dubai-based, British Expats have a deadline from a developer to complete on new build properties. Their application to a main-stream lender was taking longer than expected.
Day 1 – Dubai expats apply for a bridging loan to purchase new build apartments in Birmingham.
Day 2 – SDKA loan offer provided and accepted by clients.
Day 3 – SDKA solicitors send documentation to client’s solicitor for a quick completion. Our solicitor works expeditiously to ensure timelines can be met.
Day 7 – Transaction completes allowing the clients to meet their deadline and purchase the property.
A loan of £126,000 was provided, based on 70% LTV, the client then arranged re-finance of the bridge loan onto a longer-term buy to let.