Cardiff-based Chaseblue Loans had already sourced a bridging loan for a client who is a seasoned buy-to-let investor. The client originally wanted to modernise a house in the Midlands, which they had bought to split into two flats.
The client had borrowed funds from another lender previously, but this was not enough to fully complete the project. Due to the client's background they struggled to arrange refinancing until they approached Chaseblue for help.
Time was tight, but Blemain Finance agreed with Chaseblue Loans to arrange a £150,000 first charge loan, which from initial conversation to completion took just eight days.
Nick Jones, National Sales Manager at Blemain Finance, said:
“Clearly time was of the essence in this case but our specialist team was able to make an on-the-spot decision which meant this investor was able to access the funds they needed in time to complete their refurbishment
“Working with our partners at Chaseblue, the process was quick, efficient and headache free for the client and meant that the receivers were not called in.
“This was a great result for everyone involved and a great example of what can be achieved when two experienced companies work together.”
Ben Gillespie, Broker Director, Chaseblue Loans said:
“The client now has extra funds to finish the modernisation, plus he plans, in time, to split the titles so that he can remortgage without issue going forward.
“It is a shining example how a specialist packager, like Chaseblue Loans, can make the difference. We know exactly what lenders are looking for and try our best to place it once and place it right.
“We looked for the lender with the best rate and package for our client. Blemain Finance has a wealth of experience and this is why they have been in the market for so long.”
