Our clients had purchased a Buy-to-Let property through a Limited Company at auction using a bridging loan arranged via another broker approximately 11 months earlier.
As the bridging facility approached expiry, the clients required a long-term Buy-to-Let remortgage to exit the bridging loan. However, with only one month remaining before the bridging loan was due to default, the situation had become increasingly time-sensitive.
Timing quickly became the most critical aspect of the case.
With the original bridging finance having been arranged elsewhere, we were unable to discuss the account directly with the lender in detail.
Although the lender could not disclose account-specific information to us, they advised that the clients should contact them directly to explain that a refinance strategy was already actively progressing and that a long-term Buy-to-Let exit was underway. Importantly, the lender indicated they may be prepared to consider an extension to the facility, subject to review of the circumstances.
The clients subsequently engaged with the lender directly to discuss the refinance plans and repayment strategy. This proactive communication helped alleviate immediate pressure surrounding the impending expiry and created valuable breathing space while the remortgage application progressed.
A suitable Buy-to-Let remortgage solution was identified and submitted promptly to facilitate the bridge exit.
Due to efficient turnaround times, the underwriting assessment was completed within two hours of submission, with the valuation instructed immediately thereafter. The speed of the lender’s response enabled the transaction to move forward rapidly, significantly reducing the risk of the bridge facility expiring before completion.
The mortgage offer was subsequently issued, placing the clients in a strong position to redeem the bridging loan successfully and transition onto a sustainable long-term Buy-to-Let structure.
This case demonstrates the importance of proactive communication, strategic lender selection, and fast execution when dealing with time-sensitive bridging exits.
If you are approaching the expiry of a bridging facility or require advice on refinancing a complex Buy-to-Let scenario, please get in touch — we would be happy to discuss how we may be able to help.
Call our team today on 0800 652 0971 or email info@privatefinance.co.uk.
Disclaimer:
The information presented in our case studies is intended for illustrative and marketing purposes only. Some case studies may be based on multiple enquiries or hypothetical scenarios to demonstrate typical processes or outcomes. Not all case studies represent completed business transactions, and the inclusion of a case study does not imply that the business was successfully concluded. Please be aware that Private Finance is not a tax advisor, and this page does not constitute tax advice. The Financial Conduct Authority does not regulate commercial finance and some forms of buy-to-let mortgages.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
