Shawbrook Bank has provided a £500,000 second charge loan to save a client’s property value.
The specialist bank was approached by CSC Loans with a client who needed finance to purchase a plot of land next to their current property.
The land was initially set to be bought by someone else for commercial purposes, which would have likely had an adverse effect on the client’s property value.
The case was funded within seven working days of submission, despite unusual land registry issues arising on the application.
The loan was offered at a rate of 4.2%, up to 65% LTV.
Emma Cox, sales director at Shawbrook Bank (pictured above), said: “Due to the strong relationship we have with CSC Loans and the excellent quality of their packaging, the case was able to complete in such a short period of time and the client was able to save their property’s value.
“This case shows how important it is for a broker to be able to speak to one of our underwriters.”
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