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Case Study - £1.2m Re-Bridge - Chelsea

Case Study – £1.2m Re-Bridge – Chelsea



June 2020

Having successfully secured sufficient finance to undertake a refurbishment development in the Chelsea area, one of our long-standing property developer clients contacted us as due to unforeseen refurbishment delays, their initial finance was about to expire.

Utilising her industry contacts, our bridging adviser Louise was able to secure her client a 5-month extension with their current lender, giving them the time needed to complete the work.

Unfortunately, with the arrival of the pandemic, the clients then experienced further delays meaning additional finance was needed. Ever pro-active Louise set out to solve the problem ahead of the extension’s deadline as the clients would need new finance for a sum of £1.2 million.

Louise Noble

Senior Buy to Let & Bridging Specialist
Louise recently celebrated nine years with TBTLB!

If you are looking for a buy to let expert, you can get in contact with Louise today by calling 08009499410 or by sending her a quick email

The Buy to Let Broker Louise Noble Mortgage Broker

The Challenge

Keeping in mind that the client needed extra time to both complete the refurbishment and sell the property, Louise began contacting lenders at the beginning of March 2020, three months before the initial extension deadline.

Facing two hurdles – rapid criteria changes due to the pandemic and a valuation based on uncompleted work. Louise’s advanced lender knowledge and connections were put to the test to help her clients avoid unnecessary charges.

Our Strategy

After some quick due diligence, Louise identified the right lender who would offer the 60% LTV finance needed by the clients, submitted the necessary application and helped arrange for the physical valuation to take place (in adherence with COVID safety guidelines.)

Due to criteria changes from the lender responding to the pandemic, during the application process, the client became uneligible for the agreed deal. To avoid any delays for the clients, Louise continued to contact her vast array of industry contacts and was able to agree on a new deal with LendInvest at a 65% gross – giving a net loan of £1,089,312.50. The deal was a major exception for LendInvest who were no longer accepting bridge to bridge deals, but due to the strength of Louise’s communication in illustrating the quality of our client, LendInvest thankfully agreed to the deal.

Through further negotiation, the term for the new finance was also reduced from 15 months to 12 months. This would give the clients a net loan of £1,113,395, an impressive deal with all of the pandemic restrictions but still £62,605 short of the needed funds.

Undeterred, Louise approached the clients’ current lender and agreed on an additional one-month extension to their current bridging loan. This allowed the clients further time to complete the work and so a second property inspection could take place.

This proved successful and in June 2020 with the refurbishment complete, a second property inspection was able to take place and a revised offer of £1,235,000 was agreed with LendInvest. The new bridging loan was secured for 12-months and the clients avoided higher charges and the pressure to sell the property quickly.

The Buy to let Broker Phone Kensington

Sophie Mitchell-Charman, Sales Director at LendInvest, said “I have worked with Matt, Matthew and the team for several years and have always appreciated how they go the extra mile for their clients. They take the time to properly understand their needs, which makes working with them to find the best solution a better experience for all parties.

Louise has an extensive knowledge of the property market, and as a lender, working with her is enjoyable as she fully understands the requirements and challenges that may present throughout a transaction.

Earlier this year, The Buy to Let Broker became one of our Strategic Partners at LendInvest, a programme to recognise our key broker partners. In recognition of their work with us over the past year, they now enjoy the benefit of dedicated Underwriters and advanced access to product launches, among other things.

We are thrilled to have The Buy to Let Broker as part of our scheme, it allows us to continue working closely with them and grow our relationship further.”


The Results

Property Valuation£1,900,000
Loan Amount£1,235,000
Mortgage LenderLendInvest

Working with case manager Amy, Louise’s pro-active problem-solving approach was the antidote to the clients’ problem. Never one to accept no for an answer, Louise was able to negotiate and lever her contacts to get her client a new deal, even while facing all of the challenges that the pandemic brought.

We are extremely proud of Louise’s work on this case and we know that the clients are extremely grateful for all of her tenacity and care.

We’ve got expertise. Lots of it.

The Buy to let Broker Connor, Louise and Sophie

Feefo Platinum Trusted Service Winner 2020, 2021, 2022, 2023 & 2024 ★★★★★

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