Roma Finance, the bridging and development lender, provided funding for a new build bungalow in just five days.
The introduction came from Business Funding Expert who had a customer looking to acquire the new bungalow in Norwich.
Roma visited the site and saw that there was a high demand for properties of this type locally.
The customer was looking for £273,000 to help with cash flow to acquire the property and carry out some light refurbishment. On completion the property would be valued at £420,000 and sold on completion to pay off the bridge.
Roma provided the funds over a nine month term and were able to complete the transaction in just five working days.
Daniel Hill, Divisional Sales Manager at Roma Finance, said: “It was a pleasure to work on this case and help a customer who needed the finance quickly to acquire this property. It’s a high quality property and the local market is buoyant for this type of bungalow so it will sell quickly and the customer will make a profit on the sale.”
Gordon Duffy at Business Funding Expert commented: “When helping customers with their borrowing requirements we always say that we will look for the best deal for them. That doesn’t equate to “cheap” but using lenders who understand the transaction, can expedite matters to meet deadlines and to work with the client to ensure everyone is happy with the deal. I am pleased to say that Daniel Hill at Roma Finance worked his socks off to make sure the bridging facility we were arranging on behalf of our mutual customer went ahead without any issues!”