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Big Mandarin Estates Secure 7 Properties in 24 Hours
14/04/09  Big Mandarin Estates needed to raise £350,000 at short notice in order to secure seven properties in Fallowfield, an area that boasts excellent amenities, good transport links and a bustling night-life, making it perennially popular with Manchester's students and young professionals. The properties were on the market for a keen £115k each, but Big Mandarin had been able to negotiate the fantastic price of £76k per unit in exchange for the promise of a quick completion. Big Mandarin contacted Bridging Finance Limited on a Thursday morning to discuss finance for the transaction. By lunchtime we had completed the necessary valuations, and by mid-afternoon solicitors had been instructed and documentation issued. We went on to advance the required funds first thing on the Friday morning, within 24 hours of the initial enquiry. Mr Kenneth Ross of Big Mandarin Estates said, "This was an opportunity that was too good to miss and the efficiency of Bridging Finance Limited was a key factor in bringing the deal together. The fact that they continue to offer such a smooth and rapid service despite the difficulties in the credit markets is a testament to their great skill and experience. It is always a pleasure to do business with Chris and his team, and they've since provided the finance we required to complete the purchase of a further two properties. Again, this was delivered within 24 hours of our initial enquiry - a truly outstanding service." Chris Baguley, Managing Director of Bridging Finance Limited said, "We still have a strong appetite to lend on quality deals and this one definitely qualified. The attractive location of the properties, combined with our confidence in Big Mandarin based on our prior relationship, meant that we were delighted to provide the necessary funds within the short timeframe that the transaction demanded. I understand that several of the properties have already been sold on at a healthy profit, proving that there are still some great opportunities out there for those who understand the market and can move quickly." print page
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