This client urgently required a bridging loan to avoid financial disruption. The circumstances needed immediate action to refinance the loan swiftly. However, a significant hurdle was that the client had no income, posing a challenge in securing the necessary loan.
The client's request was complex, as they were seeking a loan of approximately 75% against a property valued at around £14m. The task was challenging, requiring extensive work to achieve the desired outcome.
Enness was able to secure the following terms and close the refinance in just a few weeks. The loan to value (LTV) was approximately 75%, with a 2% fee and 12 months of retained interest.
Enness' team of experts worked tirelessly to ensure that the client received the best possible deal despite the challenging circumstances, and the client was delighted with the outcome.
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