Large Bridge - Prime Central London, Singapore Buyer, 72-Hour Completion
£2,400,000 bridge · 75% LTV · 0.69% pm. A retired high-net-worth financier in Singapore securing a £3.2m Kensington flat against a competing cash buyer with a 68-hour end-to-end completion.
The Client
British national, 61. Long-term Singapore resident, retired financier. High net worth - significant liquid assets in Singapore and UK.
The Challenge
The borrower wanted to purchase a 3-bedroom flat in Kensington at £3,200,000, but the seller required 72-hour completion against a competing buyer with cash ready, and the buyer's Singapore assets could not be liquidated in 72 hours. The deal needed a £2,400,000 loan at 75% LTV with a non-resident borrower and a same-day offer.
Our Solution
Doulton activated a private bank relationship on the panel who specialise in high-net-worth bridging for international clients. Indicative terms were issued within 4 hours of enquiry. A desktop valuation was accepted given the prime central London location and liquid secondary market. Solicitors worked overnight, and full drawdown completed in 68 hours from first enquiry.
The Outcome
£2,400,000 first charge bridging loan at 75% LTV. Rate 0.69% pm. 6-month term. Exit arranged via a private bank mortgage on the same property, completing at month 4 at a rate of 4.95%. Property secured ahead of the competing cash buyer. Key highlights: 68-hour end-to-end completion; desktop valuation on a prime Kensington flat; private bank relationship activated same day; exit mortgage arranged before the bridge even started.
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