Specialist lender Jumbo Bridging has partnered with peer-to-peer platform FundingSecure to complete a £360,000 bridging loan in five days for a development site next to Edinburgh Airport.
The loan was required to refinance an existing first charge facility and was secured against the site, which has planning consent for airport-related developments.
The borrower was due to leave the country on business, so it was crucial that the deal was processed quickly and efficiently.
The loan was for six months at 60% LTV.
Sean Robertson, regional business development manager at Jumbo Bridging, said: “Our client approached us as he required a team that could work quickly to facilitate his bridging requirements.
“At Jumbo Bridging, we pride ourselves on providing quick results so readily took up the challenge.
“Working closely with the team at FundingSecure, we were able to go from initial enquiry to drawdown within seven days.”