Marc Goldberg

Together provides £2m re-bridge in four days

Together has provided a bridging loan of more than £2m with Finance 4 Business (F4B) to a property investor in just four days.

The customer had already secured planning permission to turn a former office block, and two associated outbuildings on a two-acre site, into 90 one- and two-bedroom flats. 

However, the client was up against a tight deadline to complete the purchase of the Victorian Grade II-listed building, which had been a malthouse before it was converted into offices.

Due to an initial bridging loan proposal from a bank falling through, master broker Finance 4 Business stepped in and recommended Together to the client.

The specialist lender then agreed a re-bridge of over £2m to pay back the client’s initial lender.

“Our fantastic partnership with F4B ensured a rapid turnaround and we were happy with the client’s exit strategy: an agreed development facility with another lender further down the line,” said Marc Goldberg, commercial CEO at Together (pictured above).

Russell Martin, managing director at Finance 4 Business, added: “[The client] had initially been sceptical about whether we’d be able to do the bridge so quickly but, having worked with Finance 4 Business on a number of occasions, he was confident that Together would deliver following our recommendation.”

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