An individual had their sights set on purchasing a distressed property, but their dream was almost thwarted by a tight deadline. They needed the funds within a week to secure the deal, but their traditional bank was unable to provide them with a loan in time.
Desperate for a solution, the individual reached out to Rikvin Capital for help. Rikvin Capital understood the urgency of the situation and was able to transfer the funds in a short notice. With their support, the individual was successfully able to purchase the property at an excellent price.
Two years later, the individual was able to secure a bank loan and settle their outstanding due with Rikvin Capital. This experience taught the individual the importance of having a financial partner who was flexible and willing to provide support in a time of need. They were grateful for the help from Rikvin Capital and felt proud to own the property they had worked so hard to secure.
Problem
- An Individual was looking to purchase a distressed property and needed the funds within a week to secure the deal.
- The Individual was not able to secure a bank loan on time.
Solution
- Rikvin Capital was able to transfer the funds in a short notice.
- With the help of Rikvin Capital, the client was successfully able to purchase the property at an excellent price.
- The Individual managed to secure a bank loan after 24 months and settle his outstanding due with Rikvin Capital.
Related: Read about when Rikvin Capital provided bridge funding for 149 properties in Blackpool, UK
- Location: Edinburgh, United Kingdom
- Market Value: £2,500,000
- Loan Amount: £1,000,000
- Loan-to-Value: 40%
- Duration of Loan: 24 Months (12 Months + 12 Months renewal)
- Payment Schedule: Monthly Interest Payment
- Asset Type: Service Apartment
- Completion Time: 14 Days