Urgent top up funds

Posted by Keystone Wealth Management Ltd on 19th November 2019 -

One of my developer clients had run into unexpected cost overruns on a development which the existing lender would not cover, leaving the client with a financial hole. The client required mezzanine finance, yet upon detailed examination, I concluded the best way to proceed was via a second charge on a Buy-to-Let property the client owned, however, in this instance the first charge lender refused consent to a second charge, so instead we provided the client with complete refinance of this property and organised a first charge bridging facility, enabling the original transaction to proceed.

Photo by Etienne Girardet on Unsplash