Bridging Loan for a new children's nursery
Posted on 15th June 2023 at 11:51
Sector: Children's Nursery
Enquiry: We received a referral from an existing customer for someone who was looking for some property finance. They were buying a residential property and wanting to conver it to a children's nursery.
Time was of the essence on this deal as the sellers had a deadline that gave us only a matter of weeks to work with.
Solution: We were able to source a lender who would provide the finance through a bridging loan while the planning anfd consent is passed through. Once this has been completed, the lender will then convert the finance to a long-term business mortgage.
Product: Bridging Loan £187,500
Tagged as: bridging loan, children's nursery, commercial mortgage, Property Development, property finance
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