Re-bridge, part-completed refurb
The stats
The deal
The clients were looking to raise funds to clear an existing lender as they had come to the end of their term and were being put under extreme pressure to refinance. They had not managed to finish the refurbishment project, which meant their planned exit was not easily achievable.
The challenge
Receivers had been appointed by the existing lender, and as such there was an inherent time pressure placed on the deal to make sure that we kept default fees etc to a minimum.
The outcome
We managed to clear off the debt before another months interest was added and the introducing broker Danielle said:
Our client came to us with a lot of pressure to redeem an existing loan. FBSE Finance stepped in, pulling out all the stops and making sure we completed on time. This isn’t the first time they’ve been there to support our clients and we know that when we need certainty of funding, FBSE are one of our go to lenders". We could not have been happier to support this deal and are already reviewing other deals with them.