Masthaven has announced the completion of a £1.6 million deal with First4Bridging, enabling a client to secure their dream home.
The duo secured the short-term loan for a repeat client, who was constantly finding it difficult to secure the funding.
The loan consisted of a classic chain break bridge, where Masthaven and First 4Bridging worked closely to ensure the loan was completed swiftly and the property in question secured without any third party interference.
Commenting on the deal, Richard Deacon, Sales Director at Masthaven, said: “It’s always reassuring to get repeat business as we have worked closely with First4Bridging on many occasions the fact that we were able to help a client complete on a £1.6 million loan on the back of a recent £1.4 million deal, shows that we are fulfilling a real need for a fast resolution.”
Richard added: “While this type of deal is a relatively straightforward one, it helps to illustrate just how important close working relationships between intermediary and lender need to be. In the specialist lending circle, speed, backed by expertise, is the key to securing the right deal for the widest variety of clients.”
Myles Williams, Chief Executive at First4Bridging, also commented: “We deal with all sizes of loan, larger and smaller, but in this particular case it was not the size of the deal that was important, it’s the fact that the client got the resolution required and in possession of their dream home.
“Completions such as these highlight the benefits and flexibility attached to bridging finance especially when you have such strong relationships in place with lenders like Masthaven who work so effectively in helping to facilitate such deals.”