We arranged a £1.26M bridging loan for a client’s auction purchase of a former hostel. Despite legal complexities, valuation challenges, and missing searches due to a Hackney Council cyber-attack, we worked with Precise and Lightfoot’s to secure funding and complete the deal smoothly.
The client required £1.26M in bridging finance for an auction purchase of a former hostel that had been converted into a house and flat with no internal access. Legal complexities arose due to established usage concerns, and no property searches were available due to a previous cyber-attack on Hackney Council. Additionally, valuation challenges further complicated the process.
We worked with Ross Williams and Suzanne Downes at Precise, who provided a flexible approach, resolving valuation issues and ensuring the loan could proceed. Elise Staples at Lightfoot’s worked tirelessly to address legal concerns, ensuring a smooth transaction. Thanks to strong collaboration and clear communication, the client successfully secured the property.
