Our client had taken out a bridging loan with the intention to expand their business building by adding a second storey and transforming it into flats.
However, unforeseen planning restrictions and construction challenges arose, meaning the project would not be finished in time to settle the bridging loan as planned. Therefore, an urgent extension was needed, and our team was ready to assist.
We helped the client raise £250,000 through a second charge homeowner business bridging loan. By collaborating with other lenders, we facilitated a simultaneous completion and effectively cleared their existing bridging loan whilst avoiding default fees and charges.
