108664 - £330,000 bridging loan for a residential property in Barnes, London

TAB provided a £330,000 bridging loan for 12 months, secured as a second charge against a residential property in Barnes, London, with an LTV of 65.39%.

The property is a semi-detached, three-storey (including loft level) residential dwelling, which has been extended and is well presented. The house is arranged to feature two larger bedrooms, although it is comparable in size to four and five-bedroom houses in the area. Situated on a street of similar semi-detached and terraced houses, the property also has front and rear gardens.

TAB facilitated the loan with an LTV of 65.39%, ensuring the borrower could proceed efficiently with their plans. The loan was processed quickly to meet the client’s requirements.

The funds will be used to repay a second charge held with another specialist lender over the residence.

The borrower’s exit strategy is to repay the loan through the sale of another investment property in Notting Hill.