StreamBank has completed a £454,790 bridging facility to fund the purchase of a holiday let, turning the deal around in two weeks by structuring the loan against three properties.
The borrower, an experienced investor based in the South West, was seeking to secure a high-yielding holiday let in a competitive coastal market. With rival bids in play, completion within 14 days was required.
To meet the deadline, StreamBank arranged a multi-security loan secured against three residential assets. The lender adopted a hybrid approach to valuation, combining desktop and automated models, to accelerate the process while maintaining risk controls.
The facility was delivered at 61% LTV at a rate of 0.74% per month. StreamBank also provided a £1,000 legal fee contribution under its StreamEdge product, which is aimed at fast-moving, high-value bridging cases from £400,000 to £1m at up to 65% LTV.
Roz Cawood (pictured), managing director of lending at StreamBank, said: “This deal brought together all the key ingredients that StreamEdge was built for. Tight deadlines, strong client profiles, and complex structuring.
“By working closely with the broker and using a flexible valuation strategy, our team turned around the case in record time without compromising on quality.
“It’s a brilliant example of how we combine speed with service to deliver for brokers and their clients.”
StreamEdge combines title insurance, legal fee contributions and rates starting from 0.66% per month. It is available for purchase, refinance and capital raising.
