FJG complete £300,000 bridging loan in just 48 hours
29 July 2019 by Leon Pascal
When time is of the essence it is essential that all parties work together and the importance of good working relationships and contacts are highlighted.
On Friday afternoon, Fisher Jones Greenwood completed a £300,000 bridging loan just 48 hours after receiving client instructions and the lender’s security requirements. The lender’s security comprised charges over two properties held in the personal names of the shareholders of FJG’s client company.
In view of the required timescales, the lender was prepared to accept an indemnity policy in lieu of searches but an otherwise full due diligence exercise was completed to the lender’s satisfaction, including arranging for the shareholders of the client company to obtain independent legal advice.
Associate Solicitor Leon Pascal led the transaction from FJG’s Chelmsford office.