11 Dec Bridge Invest uses specialist financing product to offer bridging solution to client with petition for bankruptcy
Bridge Invest completed a £300,000 second charge bridging loan against a property in Buckinghamshire with a borrower who had a petition for bankruptcy against them. In order to remove the bankruptcy notice, a court hearing needed to be held and completion performed on the same day. Therefore, the lender sent the petition amount (£218,000) to their solicitor prior to the court hearing allowing the court to dismiss the petition.
As seen in the NACFB morning briefing