The deal was completed in six working days with full valuation. 

The client already had a small bridge on their home which they had previously raised to fund the deposit in the hope their home would sell quickly and release the residual cost for the purchase. 

Unfortunately, they got let down by a buyer which left them needing to re-bridge their home to raise the full purchase price for the abroad residential purchase and buy outright prior to finding a new buyer for their home.

Sam O’Neill, head of bridging at Clifton Private Finance (pictured above), commented: “If I had known the requirement was a six-day regulated re-bridge with a full valuation, some minor credit issues at 70% LTV I wouldn't have been very confident.

“We didn’t know this until we were let down by another provider and there was a down valuation on the property.

“Despite this, we reached out to Greenfield and with the commitment from the client all parties were on the same page.

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“The lender, client and solicitors all pushed in the same direction to get the mutually desired outcome.” 

Andrew Franklin, underwriter at Greenfield Mortgages, added: "Sam approached us with the case and provided a full overview of the scenario which meant I could fully understand the deal and provide a committed initial decision with terms.

“Thereafter within a matter of hours Sam had submitted the full application, which was approved by us without delay, which meant valuation and legals could be instructed the same day.

“We gained commitment from the valuer to inspect the property quickly and expedite the report. 

“This meant the full valuation report was back within a matter of days while both sets of solicitors understood the need for a fast completion and worked very closely to swiftly reach a point where legal work was fully completed for us to then transfer funds to progress to completion.

“For me, this is truly what bridging is all about — a client having a need for funds in a short amount of time and us delivering within that time frame.”