Another messy, complex case




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Happy easter to everyone, three days back at work then it's off again for that wedding down south, and then May day. I see a days fishing coming on Friday, sorry if that offends but they didn't watch my wedding, and getting wed on the pitch at beautiful downtown Bramall Lane was just as illustrious  as Westminster Abbey.

Just before the break I had an influx of bridging enquiries, I'm pleased to say that of the ones mentioned last week that the big one, £950,000 gross loan, has been placed and we should get the valuation instructed this week and move it on, very happy with my lender on that one.

At the other end of the scale a £25,000 purchase at auction, well the two bed terraced house is in 'ULL' as we say in Sheffield, probably worth about £40,000 on the open Market and with about £350-£375 per month rent it's not bad value for money. Thing is this has proved harder to place than the larger loan above, the client has paid 10% at auction, plus about a grand in auction fees, and the balance of £22,500 is far too low for most bridging lenders, even lower if more deposit is required, but i've a plan up my sleeve for Tuesday, perhaps requiring the client to put in a further £1,250 making up a 15% deposit.

Just one more case to find a solution for today, another messy complex case, but I love em!

To finish this shortened Easter blog a thank you to Steve Spragg and his crew at Bridgebank for all the hard work they put in on getting a case to completion last week, all sorts of legal problems arose but hard work won the day, thanks again.

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