Bridge Completes in 3 days
- Date: 19/04/2018
South Coast based packager Complete FS has revealed that, working with Together, it saw a case take three days from application to completion.
With a client needing finance to pay for boat repairs, amid temporary cashflow difficulties, Complete FS and Together were able to arrange a bridging loan secured against unencumbered letting property owned by the applicant.
Because of the low LTV required, Together was able to use an AVM (Automated Valuation Model) and its own internal solicitors for the legal paperwork.
Phil Jay, director at Complete FS, said: “This is a fantastic example of how short term funding can really come into its own. We do come across these extremely urgent deadlines to raise funds and it’s refreshing to know we can get them over the line in time.
“It goes without saying that all parties have to be on the ball and in this case, Together has been completely impressive, living up to its name.”
Nick Jones, head of specialist distribution at Together, added: “The case with Complete FS is a perfect example of what can be achieved when you have a distributor as professional as Complete presenting the customer’s circumstances. They demonstrated why we, as a lender, could ensure the best outcome for all parties and allowed us to produce a solution so quickly.”
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