Client Background
A South Wales property developer was mid-way through a small residential scheme when a buyer’s chain collapsed, putting the sale and build schedule – at risk.
Challenge
To keep progress on site, the developer took the buyer’s property – a residential bungalow in a desirable area, in part-exchange. They needed funding against the taken-in asset immediately and without delay.
Solution
Cornerstone provided a £107k bridging facility that:
- Required no valuation, expediting completion
- Delivered credit-backed terms within 24 hours
- Allowed immediate drawdown
Outcome & Additional Value
The buyer secured their desired new home, and the developer maintained momentum across the scheme, avoiding costly delays.
The developer has since expressed interest in using this strategy again due to its simplicity and effectiveness.
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