Ortus completes £295,000 re-bridge to support refurbishment project

Ortus Secured Finance has provided a £295,000 re-bridge to complete a refurbishment project.

The facility – secured against a house in Croydon – enabled a pair of siblings to refinance an existing bridging loan, fund the final phase of works and provide a small amount of equity release.

The pair had inherited the property and were subdividing it into two flats.

They experienced time delays and cost overruns with the refurbishment and were faced with a stalling scheme and heavy penalties due to the original bridge being close to expiry.

Ortus found that the delays were outside of the borrowers’ control and they had a clear vision of what was required to complete the job.

The specialist lender was keen to help and save the pair from incurring additional fees.

The deal was introduced by Keith Leighton at Finance 4 Business.

He said: “The team at Ortus got to grips with the clients’ requirements straightaway and were really helpful throughout the process.”

Sign up to our newsletter to receive more news like this story

I accept that by joining the B&C mailing list, I will receive relevant news and promotional material via B&C on behalf of its partners and advertisers. Your data will not be passed on to any third party.
No, thanks, just the news please.

Leave a comment

Blonde teen Lidsey posing for you