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Regulated Bridging Finance

Orchard Mortgage Solutions are pleased to present a case study on a client who required regulated bridging finance. To secure their new home, after the purchaser of their home pulled out of the purchase process.

This article will highlight the challenges faced by the client, the solution provided by Orchard Mortgage Solutions, and the successful outcome achieved.

Client Background

The client, Mr. and Mrs. Flood, had been eagerly anticipating the sale of their current home in order to finance the purchase of their dream retirement home. However, much to their dismay, the potential buyer withdrew from the purchase process days before the scheduled completion date. Left in a difficult situation, Mr. and Mrs. Flood turned to Orchard Mortgage Solutions for assistance.

Challenges Faced

Financial Uncertainty – With the unexpected collapse of the home sale, Mr. and Mrs. Flood faced uncertainty and were concerned about their ability to secure their new home.

Time Sensitivity – The Floods had already found their dream home and were keen to secure it as soon as possible. Time was of the essence as the property had been released from the probate process. And any delays could potentially cost them the opportunity to purchase this property.

Limited Options – Given their personal circumstances, traditional mortgage options were not viable for the Floods. They needed a specialized solution to bridge the gap and ensure a successful purchase of their new home.

Solution Provided

Orchard Mortgage Solutions swiftly assessed the client’s situation and proposed a tailored bridging finance solution to meet their needs. The following steps were taken:

Assessment and Consultation – A thorough analysis of the client’s financial situation and requirements was conducted, taking into account their income, credit history, and available assets.

Customised Bridging Finance Plan – Orchard Mortgage Solutions formulated a bespoke bridging finance plan that would enable the Floods to secure their new home, utilising the equity in their unsold property and as collateral.

Application and Documentation – Orchard Mortgage Solutions facilitated the application process by gathering the necessary documentation, including financial statements, property valuations, and legal paperwork.

Communication and Coordination – Regular communication between the Floods, Orchard Mortgage Solutions, and relevant legal professionals ensured a streamlined process, minimising delays and addressing any concerns promptly.

Successful Outcome

Thanks to the comprehensive and efficient approach taken by Orchard Mortgage Solutions, the Floods were able to secure regulated bridging finance and proceed with the purchase of their dream home.

Key achievements include:

– Rapid Financing: Orchard Mortgage Solutions secured the bridging finance within a short timeframe, enabling the Floods to proceed with the purchase without significant delays

– Smooth Transition: The transition from the unsold property to the new home was seamless, thanks to the careful coordination and communication facilitated by Orchard Mortgage Solutions.

– Favorable Terms: The bridging finance package provided to the Floods was tailored to their unique circumstances, offering competitive interest rates and flexible repayment options.

Conclusion

In this case study, Orchard Mortgage Solutions successfully assisted Mr. and Mrs. Flood in securing bridging finance, allowing them to overcome the challenges posed by the withdrawal of their home buyer. This case exemplifies Orchard Mortgage Solutions‘ commitment to providing personalised and effective financial solutions to their clients. If you find yourself facing similar circumstances, do not hesitate to contact Orchard Mortgage Solutions for expert guidance and a seamless experience.

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