Key Details:
- Client: UK National & Resident
- Property Value: £2.6m
- Loan Amount: c £940k
Enness was approached by a UK entrepreneur seeking a fast second charge loan on a property valued at £2.6 million. The client needed c £940,000 to fund capital commitments for his business. Both parties jointly owned the property, and their ongoing litigations introduced potential complications. These ongoing matters presented a significant challenge, as both parties’ consent was required for the loan. While the lender was willing to proceed, they stipulated that one party must receive independent legal advice to safeguard their interests.
Enness acted swiftly and efficiently, coordinating with the lender, client, and solicitors to keep the transaction on track. By ensuring the one party obtained independent legal advice without delay, Enness mitigated the risk of disruptions and ensured the process moved forward smoothly. The second charge bridging loan was successfully secured, providing the client with the necessary funding for their business. Despite the complexities of the ongoing ligitations and the tight timeframe, the deal was completed efficiently.
Enness’s expertise in handling complex financial situations and its proactive approach ensured that the client’s needs were met with minimal disruption. By working closely with all parties and implementing flexible solutions, Enness facilitated fast finance under challenging circumstances.
