Together and Truffle Specialist Finance have completed a regulated bridging loan within 24 hours to help a couple secure their daughter’s new home purchase.
The couple had been in the process of selling a flat in Plymouth, where their daughter was living, but delays in the sale meant funds were not available in time.
Meanwhile, their daughter had found a new property and was required to complete within 24 hours or risk losing the purchase.
Truffle introduced the case to Together, which agreed to provide a £121,000 regulated bridging loan within the required timeframe. The facility will be repaid using proceeds from the sale of the Plymouth apartment.
FAST AND FLEXIBLE
Alex Carr, underwriter at Together, says: “This was a great collaboration between Truffle and Together which delivered a fantastic customer outcome.
“As soon as Truffle brought the case to us, we understood the urgency and were able to work as a team with the broker and their client to get in place all the necessary documents needed to complete the deal. It helped that Truffle’s clients had an impeccable credit record and that they and their solicitors were quick to respond to our requests.
“Cases like these are really motivating as you get to see how fast and flexible bridging finance can help a client achieve their property ambitions.”
PULLING OUT THE STOPS
James Rainbird, managing director of Truffle, adds: “Together has a superb reputation in the specialist lending market for being able to deliver and this was the perfect example of them pulling out all the stops, going above and beyond to make sure our client’s deadline was met.
“The fast funding meant our client’s daughter could seize the opportunity to buy her dream home, without having to wait for her flat to sell, and her parents were delighted to be able to help their daughter step up the property ladder.”
