The client needed the loan urgently, as the property was due to go back into the next Savills auction on 3rd November if funding could not be agreed.

The 75% LTV facility was agreed on a 0.75% rate for 12 months.

The application for the loan was submitted last Tuesday, with the physical valuation carried out on Thursday.

All legals were executed on Friday, and, by Monday, the valuation was received, the offer was issued, and the funds released.

•   Albatross Capital secures further funding and ups max loan size
•   Together confirms its plans for second UK lockdown
•   Together and First 4 Bridging complete commercial loan in four hours

Amadeus Wilson, director at SPF Short Term Finance, said: “We really needed to pull out all the stops on this one, as the buyer was desperate. 

“These are difficult market conditions, but Together was able to do an excellent job at a time when many lenders have service issues.”

Sundeep Patel, head of intermediary sales at Together (pictured above), commented: “This was a great result and we’re delighted to have helped the customer with her aspirations to buy her chosen property.

“The case was expertly packaged for us by SPF and their client was able to sign the loan agreement electronically, using our e-file technology, removing the need for a physical signature.

“This kind of case just shows how important it is for us to work with quality partners who really understand how a bridging lender with knowledge and expertise can get the best outcome for their client.”

Paul Mooney, director at Savills’ auction department, added: “This deal was done in super-quick time, even by auction standards. 

“The vendor was demanding, particularly as it got close to the deadline, so it was a huge relief for all concerned that Amadeus and his team could get the required funding in place.”