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Crystal Specialist Finance and Together partner on £750,000 bridge

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  • 05/12/2019
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Crystal Specialist Finance and Together partner on £750,000 bridge
Bridging broker Crystal Specialist Finance and Together have completed a £750,000 short-term commercial loan in 15 working hours.

 

The £748,870 deal was needed to pay back a second charge bridging loan and to raise capital for business purposes.

The client had already begun an application with a different lender but the deal had stalled. Crystal placed the case with specialist lender Together on a Monday morning and the deal went to offer straight away. Searches were completed and the client signed the documents with a solicitor on Monday evening.

A new valuation was carried out on Tuesday morning and Together agreed to accept verbal figures from the valuer. An equitable charge was taken with consent-to-follow from Coutts.

Jo Breeden (pictured), managing director of Crystal Specialist Finance, said: “The fact remains there is still plenty of time before Christmas to complete deals if the right professional support is in place and the lender recognises to complete good opportunities. This is specialist finance in action, companies working in conjunction to meet a client’s needs.”

Marc Goldberg, commercial CEO at Together, said: “We have the team and expertise to look at applications and make quick decisions. This case demonstrates how we worked with our partners CSF and used common sense and flexibility resulting in a positive outcome for their client.”

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