"It was a pleasure working with UTB and together we were able to structure a swift and smooth solution providing the desired outcome for our client. We look forward to working with UTB again in the future"
- Serkan Osman - Global Finance Partners
Serkan Osman, Director at GFP, assisted their customer in buying a new home closer to their family without selling their existing main residence first. United Trust Bank agreed a £2.1m bridging loan secured against the client’s existing home, an investment property and their intended new main residence. Security totalled £4m with an LTV of 56%.
Several possible exits were offered including the sale of the former home and investment property. Other options include the refinance or sale of other investments and properties included in the borrowers’ portfolio. Other assets were also sold to cover SDLT and other associated costs.
Due diligence on the multiple securities and source of funds was complex but with GFP’s assistance throughout the transaction UTB was able to provide the funding as required and the borrower to complete their purchase.
Serkan Osman, Director at GFP, commented: “This case highlights the value of using an experienced broker like GFP. Exceptional industry knowledge assists with getting the less conventional transactions over the line for our clients.
“We understand the complex needs of HNW and UHNW individuals, and pride ourselves on finding efficient solutions, even in the most complicated situations. It was a pleasure working with UTB and together we were able to structure a swift and smooth solution providing the desired outcome for our client. We look forward to working with UTB again in the future.”
Paula Purdy, Head of Sales – Bridging, United Trust Bank commented: “This deal called upon the team to show their expertise in delivering complex regulated bridging loans and demonstrated how experienced and knowledgeable intermediaries really add value to a complicated transaction
“It was a pleasure to work with Serkan and Global Finance Partners. Serkan was extremely helpful and responsive and clearly had his customers’ best interests at heart. He helped the whole process run smoothly from start to finish and we look forward to working with Serkan and GFP again.”
