Purchase bridge loan for a detached property in Surrey​

We were approached by an experienced client, looking for funding to purchase a detached property in Surrey whilst they sought planning permission for an extension.

QUICK LOAN OVERVIEW
🏠 Purchase bridge
🏠 3-bedroom detached house
🏠 Purchase price: £705,000
🏠 75% LTV
🏠 9-month term
🏠 Retained interest

Jack Harnett, Sales Team Leader, says: “This bridge shows the flexibility Catalyst are able to provide. Even though the client is yet to have planning permission approved, we were able to leverage against the property at 75%, offering a smooth process and competitive product.”

Rachel Thomas, Underwriter, added: “This case was a clear example of us being able to move quickly and respond to the borrower’s requirements as and when they changed in real time. There were several potential exit strategies we were happy to consider and explore to become comfortable. Although ultimately, we were unable to fund the works, the borrower was more than happy for us to provide the holding funds until planning was confirmed and then build out at a later stage.”

For more information on our Purchase Bridge loans, click here.