Funding 365

Funding 365 completes short-lease bridging loan in three days

Funding 365 has completed a short-lease bridging loan in three days to help save a property purchase.

The property – a flat in north-west London – only had 37 years remaining on the lease and funding was required urgently by the borrower to complete the auction purchase. 

Funding 365 was introduced to the deal by specialist property finance broker Top 10 Finance.

Given the time constraints, the lender waived the valuation and provided a short-lease bridging loan of £140,000 for 12 months at 60% LTV.

Funding 365’s short-lease bridging product is designed for properties with 10-70 years remaining on the lease, with interest rates starting at 0.99% pcm, up to 70% LTV and 100% with additional security.

“Funding 365 is known for its speed and service, but in bridging finance no one operates in a silo and we couldn’t work at the speed that we do without our exceptional partners: our lawyers, surveyors and brokers,” said Paul Weitzkorn, director at Funding 365 (pictured above). 

Zara McDermott, director at Top 10 Finance, added: “I’ve worked with Funding 365 on dozens of bridging deals over the years and I always have complete confidence that they will work with me to deliver for my clients, even on deals with such tight turnaround times.”

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