Bridging finance can be a great option for those who are looking to expand their business but do not have the financial flexibility. This case study highlights how Aria Finance helped a client secure a new development property through bridging finance in just 2 weeks, enabling them to work on multiple projects:
The client works for family-owned building and construction company, which after years of successfully working for other property developers, they began to develop small to medium-sized projects themselves.
The client owned his residential property with no outstanding mortgage.
The client wanted to purchase a new development site, which was sought after by many local developers. Their cash was tied up to their current property meaning they did not have the necessary capital needed in order to purchase the new, promising development site. The client needed to come up with the funds quickly before a competitor moved to purchase the site.
We identified a specialist lender willing to lend the necessary funds quickly, allowing the client to leverage the existing site and buy the new development site, despite the current site not yet being finished or habitable.
This case is a prime example of the benefits of working with Aria. The client had never taken out a bridging or development loan in the past, and the Aria team worked closely with the client to thoroughly explain all of the steps during this process to reassure them.
The team was able to find a lender that was comfortable with the client's circumstances and provide the necessary funds. This was accomplished in a tight time frame, just 2 weeks from application to completion.
By working with Aria, the client was successfully able to leverage their existing site in order to purchase the new development site. This allowed the client to grow their business and work on multiple sites.
Quote from the client:
"The team Aria Finance were excellent. Their knowledge was second to none. They were patient with me and my dad explaining everything more than once.
We had never taken out any type of development or bridging finance before because we never thought banks would lend us. We now know it's possible and as such we can expand our business by being able to work on more than one project at a time."
If you have a client case which could benefit from this speedy approach, we can help. From Bridging Loans to Second Charge mortgages - we live and breathe specialist finance and are here to make your job easier. To find out more, contact us.