February 19th, 2018.

Deal of the Month: Fast Property Finance to Purchase a Castle

Sometimes securing finance for a property that doesn’t ‘fit the mould’ can be tricky. High street lenders can be reticent to accept applications on period or listed properties, as well as unique constructions.

However, as a specialist commercial finance brokerage, when a client recently came to us regarding the purchase of a property which was both of these things, we knew we could help.

How We Helped Our Clients Become King and Queen of The Castle

Our client approached us because his previous broker couldn’t secure a bridging loan and, as the client does not use computers at all, they needed some specialist help securing finance. The previous broker has encountered issues as lenders did not want to take on such a unique property in such a location.

So, what is so special about this property? Well, the client required a loan to purchase a rural house set in 24 acres of land in West Wales. On this land there were multiple outbuildings, as well as a historic motte and bailey castle.

Our client wanted to raise money to buy the property by applying for a bridging loan secured against their existing home. Once moved and the existing property is sold, they will repay the loan.

And that is exactly what we achieved. Our Head of Specialist Property Finance, Luke Egan, secured the finance that was required and the client has been able to make an offer on their dream property.

Need Finance to Purchase an Unusual Property?

If this story sounds familiar and you’re struggling to find finance for a rural, period, or unique property, we can help. Get in touch with our bridging finance brokers to discuss your options today.