Tenn still has capacity to complete bridging loans before Christmas.
As things start to slow down at the end of the year, the bottlenecks that have crept up are stopping property transactions from completing. Clients and brokers alike are keen to get things moving before year-end, finalising open transactions and breaking lingering property chains, starting afresh in 2022.
For their part, many solicitors and valuers are already short on time, doing their best to wade through the backlog generated by one of the busiest years on record. As we look towards the Christmas break, many would-be buyers and their brokers are looking for a way to complete property transactions as quickly as possible, bypassing lengthy mortgage application processes and the accompanying delays caused by exceptional transaction numbers over the course of the year.
As a result, there’s significant interest in bridging finance, especially in the context of more uncertainty over possible lockdowns and travel restrictions. The demand to close deals at the top of the market is especially strong, with prime property investors wanting to tie up loose ends and go into the new year knowing where they stand regarding property investments and the accompanying capital requirements as they plan their year.
If you have clients who are looking to complete a property purchase before the end of the year and are considering bridging finance, get in touch – Tenn can still close deals before Christmas. Provided we can get inquiries and paperwork underway early this week, wrapping everything up before things slow down for the holidays is still very possible.
We work with expert legal teams and valuers who will still have the capacity to get things moving quickly. Tenn and our partners will be able to work on the deal in the coming weeks, closing before the Christmas break. Tenn has the funds available to support deals – we aren’t shopping the market for capital to back the loan. We can make lending decisions in one to two days, getting the due diligence, legal, and valuation process started almost simultaneously. If we can understand your client, their requirements, and if paperwork is in order, we will see things completed in a couple of weeks.
If you have clients looking to close high-value property purchases before Christmas, either in the UK or in prime European locations, get in touch. We can talk about timelines, your client’s requirements and get the ball rolling.