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Andie’s sale fell through the day she was meant to exchange

Andie was going through a nightmare.

She found her dream home which she agreed to purchase for £2.6m. When it came to exchange day, the sale of her current home fell through leaving her at risk of losing this new home.

Luckily, Matthew swooped in to save the day, allowing her to continue with the purchase of her new home without having to find a new buyer.

“short-term funding would usually be quite expensive”

The short-term funding that Matthew secured would usually be quite expensive but in this case, Matthew was able to find a niche lender that was able to lend on their standard variable rate. This funding was for 1 year and on an interest-only basis meaning, Andie had an extra year to try and find a new buyer for her previous home and could still move into her new home.

KEY FACTS

Adviser: Matthew Yassin

Purchase price: £2.6m

Loan: £1.25m

Arrangement Fee: 2%

Rate: 5.4% p/a

Term: 1 year - interest only