Underwritten within 3 hours
SDKA were approached by a broker who sought a fast decision to assist 2 clients with an existing development loan. The experienced developers had sites each with a small number of high end residential properties whereby the existing facilities were coming to the end of the term, in just 3 weeks. The properties were complete to an exceptional standard and the developers needed time to market the properties and conduct sales on the sites.
In order to prevent the clients from incurring default interest / charges a re-bridge was required.
SDKA were able to underwrite the loan within 3 hours, and instruct legals that same day. We were able to visit site that same and one of the client’s visited SDKA’s offices further enhancing the relationship.
Due to the fast action of the team, and working in collaboration with the broker and legal team completion occurred within the required timescale preventing any unnecessary default charges to the clients. A facility was provided for 6 months allowing for the sales of the properties.
Jay Roper of MPG NW Ltd commented “I had two experienced developers that had delays on sales going through on their respective sites. I approached Kunal to discuss each proposal, with timing being critical. Kunal and his team expedited both applications and enabled a smooth process for my clients. Both transactions were completed within 3 weeks. It was a pleasure to work with Kunal and his team at SDKA, 5 Star service throughout.”