£4.2m Chain Break - Prime Central London
£4.2 million · 7 working days · 0.55% pm. A landlord purchased a £6.5m Mayfair townhouse before their existing property sold; Doulton arranged the first-charge bridge to allow exchange and completion to proceed.
The Client
Established London landlord with multi-asset PCL portfolio
The Challenge
A landlord agreed terms on a £6.5m Mayfair townhouse before the sale of their existing property had completed. Mainstream mortgage timelines could not match the seller's exchange deadline; allowing the deal to slip would have lost a sub-market price.
Our Solution
Doulton arranged a £4.2m first-charge bridging loan at 0.55% pm within 7 working days. A PCL-specialist surveyor was instructed in parallel with legals. The bridge was structured with rolled interest so no monthly servicing was required during the marketing of the existing property.
The Outcome
Exchange and completion on the Mayfair townhouse proceeded on time. The existing property sold 11 weeks later, repaying the facility in full. Total bridging cost was a fraction of the discount achieved on the purchase. Key highlights: Completed in 7 working days; PCL-specialist valuer accepted on day one; Rolled interest - no monthly payments during sale period.