At Aria Finance, we're often able to provide funding for complex cases that traditional lenders are unwilling to do due to the risk or their rigid underwriting policies. Here’s a short case study about our Second Charge Bridging Loans to emphasise just one of how we can help your clients:
A mortgage broker had a client that owned a flat in central London. The value of their property was £900,000, with a £320,000 mortgage. The flat had a 22-year lease remaining. If the client could extend the lease, the property value would be increased to £1.5m. They needed to borrow £300,000. Street lenders would extend them funding due to the short lease.
Aria Finance was able to arrange an interest-only Second Charge Bridging Loan for £300,000 for two months. Once the lease was extended, a new £620,000 re-mortgage was easily arranged against a property with a new valuation of £1.5m.
So, why not contact your Aria Bridging specialist today? For a quick chat, a meeting to discuss opportunities, or a more complicated deal on your desk – email or give us a call today on 020 8731 5333.