Client: UHNW private client purchasing a prime Knightsbridge townhouse while existing property remained unsold
Deal Value: £4,500,000
The Challenge
The client had found their ideal Knightsbridge townhouse but their existing prime Central London property had not yet sold. The vendor was unwilling to wait and had issued a deadline to exchange or lose the property. The client faced the prospect of losing a once in a generation purchase opportunity due to an incomplete sales chain.
The Solution
We structured a chain break bridging loan secured against both the existing property and the new purchase simultaneously. Working with a private bank experienced in prime Central London assets we arranged a bespoke facility that allowed the client to proceed with the Knightsbridge purchase immediately while their existing property continued to be marketed for sale.
The Outcome
The client exchanged on their Knightsbridge townhouse within 14 days, securing the property ahead of competing buyers. Their existing property sold 6 weeks later, allowing full repayment of the bridging facility ahead of schedule with no early repayment penalties.
Without their intervention we would have lost the best property we had ever seen. The solution they structured was elegant and exactly what we needed.
— Client — Private Client, Knightsbridge