The client, H. James, contacted on a Sunday afternoon to pursue 100% funding for the acquisition of a half a million-pound penthouse on the Isle of Dogs in London. This is an exclusive area of the capital city and sits alongside the Canary Wharf skyline. The previous owner had unfortunately fallen into arrears on his mortgage and was facing repossession.
With a quick turnaround time, 978 placed suitable terms into place by 8am the following morning. The next day it progressed to a valuation and legals. On the open market the penthouse was valued at £550k, however it was secured for £330k due to the seller’s financial position. Our team were able to provide 100% of the purchase price with a 6-month bridging loan. The client paid for the valuation and legal fees, coming to a total of £3,000.
Managing Director Simon said the following about the deal: “This was a tricky deal due to the nature of the sale and various issues with the leases, but it was a real pleasure to get it across the line. Now we look forward to helping with the refinance and getting a competitive BTL product.”
The client also added that 978 Finance “have excellent knowledge and connections in the finance world” and that it “is apparent from the manner in which they interact between parties”. They were left feeling like they were in “excellent hands” at all times.
