Release My Capital Provides £500,000 Bridging Finance to High-Net-Worth Client to Buy a Flat In Under 5 Days
10th August 2022 - Bridging Finance for High-Net-Worth Clients
An existing high-net-worth client of ReleaseMyCapital.co.uk made a direct approach for bridging finance after having his offer accepted on a post-probate new-to-market stunning 2-bedroom garden floor flat in Maida Vale worth over £1m. The only condition of sale was that the deadline for completion was 5 days.
The client, an established and very successful high-net-worth client, was able to cover 50% of the purchase price, development costs and stamp duty. However, the client required ReleaseMyCapital.co.uk to bridge the £500K difference for a few months until he was able to either re-mortgage the flat into a long-term Buy-To-Let mortgage, release equity from other assets to clear our debt, or re-sell back into the residential market and make a profit.
The team at ReleaseMyCapital.co.uk completed an initial desktop appraisal and valuation of the property and issued the offer in principle within 3 hours, subject to survey and final valuation. We immediately instructed a RICS surveyor to complete a physical inspection and valuation of the property the following day and received the report back shortly after. ReleaseMyCapital.co.uk then issued the mortgage offer to the client's solicitors with a firm instruction to complete to the agreed deadline.
ReleaseMyCapital.co.uk are specialists in secured short-term loans on property for high-net-worth clients. Our personal bridging finance loans against unencumbered residential (not main residence] or commercial properties can help address immediate individual or business liquidity challenges. Our property bridging loans provide a quicker and more affordable alternative to a traditional bank loan or other bridging funders. It’s worth noting that ReleaseMyCapital.co.uk also provides luxury asset loans for our High-Net-Worth clients against prestige, classic and vintage cars; classic, prestige watches; fine jewellery and gems; fine wine and whiskey; fine art. Our short-term luxury asset finance will assist our clients in swiftly releasing up to £2 million of equity in their prized possessions. It is worth noting that, unlike property, when you use your luxury assets to get a loan, no credit reports are undertaken, and no search marks are left on your credit file, so our client’s anonymity is assured. Also, there is no need to travel as everything can be agreed upon easily from home. At ReleaseMyCapital.co.uk, we guarantee our high-net-worth clients' privacy.
Paul Hilburn, Director at ReleaseMyCapital.co.uk said: “We always strive to work with our clients to achieve their objectives." With this purchase, our client required a fast turnaround in under 1 week to buy this amazing flat. " He concluded: “Speed of competition is one of our strengths, which we proved in completing the purchase in under 5 days.”
Family-run and privately owned, ReleaseMyCapital.co.uk serves a broad range of clients throughout the United Kingdom.