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Impact - Specialist Finance
United Trust Bank
Bridges can get your clients where they want to be
Five ideas to help you. Build bridges.
Developing your bridging business is a great way to add to your bottom line. In this short series we'll describe five ways you can use bridging to move your clients from A to B quickly and efficiently. 

Impact Specialist Finance have teamed up with specialist lender, United Trust Bank, to build a great bridging offer designed to save you time and your clients both time and money. 

The first in our series focuses on downsizing. Please get in touch if you have any questions or you would like to discuss a potential case.
1 The Downsizer
One of the most common uses of regulated bridging is when a client is looking to downsize to a smaller property using the equity in their current home but wants to complete the purchase before selling their existing property.
A bridging loan is arranged to enable them to purchase a new property as a ‘cash’ buyer. This can help them to drive a hard bargain and reduces the chances of them missing out on their dream property to another buyer. It can also make the whole moving process less stressful as they can also avoid the issues associated with having to move out of their old home and into their new one on the same day.
BORROWER Mr and Mrs T
LOAN £650,000 (net)
LOAN TYPE Regulated
LOCATION East of England
LTV 43%
RATE 0.48% per month
CASE STUDY
Mr and Mrs T had lived in their large family home for over thirty years, paying off their mortgage in the process. As empty nesters, the applicants wished to move to a smaller property requiring less maintenance and the promise of a more relaxed lifestyle. They had always wanted to live near the coast and their ideal location happened to have a very competitive property market. The applicants had found their dream property but because they hadn’t yet found a buyer for their existing home the vendor would not agree a sale to them.
UTB was able to offer them the full amount required to purchase via a bridging loan secured against their existing home and the one they wished to purchase. This made the loan to value low at 43% and qualified for our lowest interest rate of 0.48% a month. Furthermore, because the sale of their existing home would exit the bridging loan in full, UTB only required a valuation on their existing property. This qualified for an AVM, meaning zero valuation costs, and solicitors costs were also kept to a minimum as the customers took advantage of dual legal representation.
With an offer in hand in just over a week, the applicants were able to re-approach the selling agent as effective cash buyers, fending off competition from other interested parties and securing their new dream home. Moving in at their leisure, the UTB bridge also gave them sufficient time to properly market their original home, selling it for a good price rather than having to take a low offer for a quick sale.

Look out for our emails about: 

1 Downsizer   2 Auction   3 Chain Break 
4 Development/Refurb   5 Capital Raise
Impact - Specialist Finance
Broker Desk: 01403 272625
info@impactsf.co.uk







Impact Specialist Finance is authorised and regulated by the Financial Conduct Authority No. 810314

Impact Specialist Finance is registered in England No. 04592045. 

Registered Address: 
Fairwinds, Lyons Road, Slinfold, West Sussex RH13 0RY
United Trust Bank

Broker Desk: 020 3862 1002
bridging@utbank.co.uk

Nick Warren 07917 247 762

United Trust Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Member of UK Finance. 

Registered in England and Wales 549690. One Ropemaker Street, London EC2Y 9AW.

 

For all new bridging loan applications of over £500k submitted to impact packaging for UTB this summer, your clients will receive £500 cashback when the loan draws down.

What’s more, each qualifying DIP will earn you a UTB Golden Owl point and an entry into a raffle to win great prizes and experiences. The more Golden Owl points you earn, the more raffle entries you get and the more prizes you can choose from if you win.

The promotion is open to all brokers that submit qualifying DIPs between 17 July and 30 September 2019. UTB Terms and conditions apply.

Our Bridging specialists are ready, willing and able to assist with getting your deals paid out this summer.

Speak to the impact packaging team today on 01403 272625!

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