Bridging lender facilitates below-market property deal
Original Article Summary
Bridging lender Somo has completed a second charge loan enabling a borrower to acquire a buy-to-let property valued at £500,000 for £350,000, whilst simultaneously clearing six months of mortgage arrears. The transaction involved a seller relocating overseas who required a quick sale. The post Bridging lender facilitates below-market property deal appeared first on PropertyWire.
Investor Analysis
A bridging lender used a second charge against a borrower's main residence to fund a £350,000 acquisition of a £500,000 BTL property, clearing mortgage arrears in the process. The case illustrates how specialist finance can unlock below-market deals that fall outside conventional lending criteria.
Investor Relevance
This case is directly relevant to BTL investors who may face adverse credit histories, liquidity constraints, or time-pressured purchase opportunities. It signals that below-market deals remain accessible through specialist bridging structures, and that second charge lending can bridge the gap between distressed sales and conventional refinancing — a useful tool in BRRR-style strategies.
Original Source:
PropertyWireStay Updated
Subscribe to our weekly briefings for curated property news and insights