The high-net-worth customer, a property investor from London, wanted to raise capital to buy the villa on the Spanish island, while releasing additional funds to invest back into their limited company.

They approached Cardiff-based broker Pure Property Finance for advice who, knowing its reputation for speed and flexibility, took the case to Together.

Together agreed to provide a 12-month unregulated bridging loan to the customer’s limited company, of which the borrower is the sole shareholder.

The short-term loan was secured against the client’s vacant BTL property, a multi-million pound four-bedroom home in St James’s, London.

Together has also taken a second charge over the customer’s house, a Kensington mews property, meaning an overall LTV of 66%.

The finance has allowed the client to buy the second home and they plan to exit the unregulated bridging loan by selling the St James’ property within the next 12 months.

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Kerry Jordan, intermediary sales manager for South Wales at Together (pictured above), said: “This was a complex loan structure but, working in partnership with experts at Pure, we managed to complete in a matter of days, due to the expert packaging of the case and their strong relationship with the borrower.

“The customer had a great deal of equity in two prime London properties, so we were able to cross charge on the applicant’s BTL and resi properties, held in their limited company name.

“Our underwriting approach — and the fantastic professional relationship in place with our broker partners at Pure — enabled us to open the door to the client’s ambitions of expanding their property portfolio through acquiring the Mallorca villa.”

Luke Williams, specialist property finance adviser at Pure Property, said: “At Pure Property Finance, we’re experts in completing deals across the UK for all kinds of purposes. 

“This was a case which was wracked with complexities.

“However, our ability to communicate the customer’s financial needs to Together in a clear way, meant the efficient underwriting of this deal. 

“Having worked with Together on similar cases, we had the utmost confidence in completion, providing our client with the certainty they needed to pursue their investment opportunities.”