Residential Bridge Facility
Deploy provided a residential bridge to assist with the refinance of a development facility.
Location Wadhurst and Eastbourne, East Sussex
The scenario
Deploy was approached by the Borrower to provide a facility to assist with the acquisition of the property and carry out refurbishment works. The Borrower had been let down by another lender with only two weeks to complete.
Deploy was able to quickly analyse and gather market information from their panel of professionals to screen the viability of the scheme and help the Borrower progress. Deploy were able to provide a gross loan of £473k which included rolled-up interest over the length of the facility.
Deploy pragmatically worked with the Borrower to mitigate the risks highlighted by Deploy and were able to gain security over a second asset lowering the overall LTV.
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