Problem
- High-net-worth client purchasing a new-build property in London
- Faced contract rescission due to multiple purchase extensions
- Previous adviser failed to secure a mortgage, creating urgent funding issues
- The client initially wanted to use a one-partner law firm, which did not meet the lender's requirements
- Deposit funds were arriving from overseas, adding further complexity to compliance and timing
- Developer was prepared to rescind the contract, putting the client's investment at risk
Solution
Recognising the urgency, we:
- Engaged a trusted bridging lender with the ability to fast-track transactions
- Ensured the lender immediately instructed a survey and legal due diligence
- Set a hard deadline for completion to prevent contract rescission
- Partnered with a specialist commercial solicitor experienced in fast-tracked transactions
- Ensured all Anti-Money Laundering (AML) and conveyancing checks were completed efficiently
- Coordinated lender, solicitor, and client to meet the tight deadline
Outcome
- Successfully secured bridging finance to complete the purchase
- Avoided the risk of losing a substantial deposit
- Structured financing to allow seamless transition to long-term mortgage financing
- Navigated international funding complexities with a compliant and fast-acting lender
- Secured the property purchase despite the developer's pressure to rescind
- Provided a structured plan for refinancing onto a long-term mortgage
Key Lesson
Speed and coordination across lender, solicitor, and client were the decisive factors. The previous broker's failure to move fast enough nearly cost the client their deposit. Having a lender with fast-track capability and a specialist solicitor in place is critical for time-pressured completions.
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