It’s a common buzzword in the short-term lending market – speed – but as a broker we have no doubt you’re looking for lenders that really do deliver on this easy to promise, hard to deliver guarantee. Still sceptical? Read on to find out more…
Borrower: Experienced property developer
Location: West Midlands
Loan size: £354,000
Product: Development Exit
Having been let down by their initial lender, an experienced property developer new to LendInvest approached us requiring fast completion on a refinancing project that had begun back in November but had so far not completed. With two new build, four bedroom detached properties due to go on the market for sale soon, the borrower required quick refinancing to clear their existing debt, freeing up capital for their next project while the sale of these properties was completed.
Keenly aware of the borrower’s strict deadline, the LendInvest team took five days from initial enquiry to completion, receiving the borrower’s application on Monday with legal documents signed, credit approved and loan completed by the Friday. This borrower was a new client to LendInvest; we were also able to complete the required additional due diligence on the borrower well within the five days.
“LendInvest was massively supportive in getting the deal done and closed in record time. Where other lenders were unable to understand the issues and move forward, LendInvest was on the ball from day one, allowing us to proceed quickly and efficiently from offer to completion in just one week.
Whether developing or refinancing existing projects, their specialist understanding of the particular requirements of investors will put LendInvest at the top of my list next time.”
Working with a client in the same position? Get in touch to see how LendInvest may be able to help.
This post was published on behalf of Tom Madden.