United Trust Bank has completed a £2.45m regulated bridging loan within 15 days of application, according to details released by the lender and broker involved in the transaction.
The case involved a couple purchasing a property in south-west London who required urgent funding after a family member withdrew a previously agreed gift that was to fund the balance of the purchase. The withdrawal left a shortfall exceeding £2.2m, which included a substantial stamp duty liability.
Transaction details
SPF Private Clients approached United Trust Bank to arrange the funding. Both properties involved in the transaction were located in south-west London and valued at more than £2m each.
The loan required two full valuations, which were instructed on the same day as the application. The valuations were returned within eight days, with credit approval granted the following day. Completion occurred less than a week later.
According to Brad Illman, head of sales for bridging at United Trust Bank, the transaction relied on coordination between the lender, broker, valuers and solicitors to meet the tight timeframe.
Amadeus Wilson, executive director and head of short-term finance at SPF Private Clients, said the completion allowed the clients to proceed with their purchase and avoid breaching their contract.
Market context
The case highlights the role of bridging finance in the high-value London property market, where buyers may require short-term funding solutions to complete purchases before selling existing properties. The 15-day completion timeframe is notably brief for a regulated loan of this size, which typically requires full valuations rather than automated valuation models.
Regulated bridging loans, which apply when the property will be occupied by the borrower or a family member, are subject to additional compliance requirements compared to unregulated bridging finance.
