Location: Portsmouth, Hampshire
Property type: new-build flat
Gross loan: £150,000
We are delighted to announce Velocity Bridging has completed its first case which was finalised in three working days.
The announcement comes in less than a month since we officially launched to market and we are thrilled to demonstrate that the three day Velocity concept works.
For the case, we advanced a £150,000 gross loan to a Hampshire-based borrower who needed funds urgently as essential repairs had to be carried out to the their commercial asset.
A first charge was secured against the borrower’s BTL property in Portsmouth – a new-build flat – for a six month term, with an exit expected in three months.
Both the borrower and broker are thrilled that we could finalise in such a short time and we couldn’t be happier with the speed of our first official completion!
This case showcases a change in bridging completions as we bring the element of speed back to the market.
Discuss your options further with Velocity Bridging on 01704 339588 so you can get a tailor-made loan directly for your purposes.