90% LTP Bridge for BMV Auction Purchase
A repeat, experienced borrower approached us for a fast bridge to fund the BMV auction purchase of a 3-bed, two-storey semi-detached house in Ludlow. With only two weeks to complete, speed was essential.
The property was acquired for £171k, against a market value of £275k, providing strong uplift potential. We delivered a £168k bridge with day-one 90% Net LTP and 61% LTV, enabling the borrower to secure the asset and move quickly toward their exit.
Key Challenges and Solutions
Tight turnaround
The borrower needed to complete within two weeks due to the auction timeframes. We used title insurance to significantly reduce legal timelines and instructed valuation immediately, coordinating closely with our trusted RICS-accredited surveyor to secure an inspection and a report within 3 days.
Legal efficiency
We used DocuSign for key documents that would otherwise need wet signatures, enabling quick execution and maintaining momentum throughout the legal process.
Outcome
Lendhub completed the £168k bridge on a 7-month term, providing the borrower with the funds needed to secure the property at auction and capitalise on the significant BMV opportunity. The borrower is now positioned to implement their exit strategy of placing the property on the open market for resale.
Takeaway
- Title insurance can be used to significantly compress legal timelines on time-sensitive completions, especially auction purchases.
- Digital signature tools like DocuSign can also be utilised to speed up the legal process.
- Our close relationships with professional partners helps us remove friction, avoid delays, and achieve quicker turnarounds.
