Elysium Funds Bridge in 4 days.
The principal lender stepped in after a client had been let down and needed the funds urgently.
Elysium was able to use an existing valuation report which had been prepared previously for the property (pictured above).
This allowed the lender to save huge amounts of time and enabled the whole deal to be completed within four days.
“We were presented this deal on a Friday with a bank holiday looming so knew we needed to act fast,” said Paul Gammond, CEO of Elysium Bridging.
“An offer was issued within 30 minutes after a conversation with the broker and solicitors were immediately informed.
“Having private funds means we have the final say and can work to the tightest timescales.
“I would like to thank all professionals involved as this only works when everyone works as a team.”
Gerry Lafferty, a consultant specialising in bridging and commercial loans, worked on the deal and praised the lender’s speed.
- Bridging lender completes its largest Scottish deal
- Bridging lender launches new division for big ticket developments
- New bridging lender snaps up ex-BFS manager
“Their [Elysium’s] service and proactive approach knowing how important it was for the [client] to get the loan funds by Friday made this deal possible.
“It was a pleasure working with them and made a change from the usual ‘it’s impossible’ to ‘let’s get this deal done’.
“I would also like to say that as soon as the deal completed my commission was also transferred to my account, once again many thanks to Paul and his team.”
Last month, the bridging lender completed its largest Scottish deal.
Elysium launched in March 2017 and is supported by a team of industry heavyweights, including the co-founder of Cheval, David Gammond.
It hopes to lend over £25m within its first year, with its core offering including first charge short-term commercial property loans with up to 70% LTV nationwide.