Our client purchased a property at auction that needed a bridging loan to pay for it. As bridging finance is quicker to arrange than a traditional mortgage, it meant the client could meet the completion timescale given by the auction house, thus avoiding any auction penalty fees.

GO Financial Services placed the case with a lender that would accept a first-time landlord, who also wanted to refurbish the property. The lender had a quick turnaround time to meet the auction completion deadline.

The product had no ERC’s so once the work was completed and the clients were ready, GO Financial Services advised the client on how best to capital raise on the refurbishment, and convert on too long term funding using a Buy to Let mortgage.

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