The people, amounts, property and circumstances are invented to explain a borrowing brief. No lender, rate, approval, completion or client outcome is claimed.
- Loan requested
- £680,000
- Loan type
- Bridging
- Property type
- Flat
- Illustrative price
- £1,000,000
- Contribution to price
- £320,000
- Illustrative loan-to-value
- 68.0%
The price contribution excludes taxes, fees, interest, works and other transaction costs. Those need a separate budget. The ratio illustrates arithmetic, not lending criteria or eligibility.
The borrower’s brief
An investor is considering bidding for a Hackney flat at an assumed £1 million purchase price. The draft plan is £680,000 bridging and £320,000 towards the price, with costs and works funded separately. Longer-term letting finance is an intended repayment route, not an offer already obtained.
The question behind the loan
The auction contract and legal pack determine obligations; a finance enquiry does not remove them. Lease restrictions, building information, condition and the planned use must be reviewed before bidding. A later refinance needs independent assessment and may not be available when required.
Information to bring together
- The auction legal pack, special conditions, fees and actual completion deadline.
- Lease, management information, service charges and known building works.
- Survey or inspection findings, refurbishment scope and the separate works reserve.
- A credible repayment plan and the consequences if refinance or letting is delayed.
Where the assessment goes next
The borrower should resolve the material property, legal and finance uncertainties before taking on a binding commitment. No completion speed, refinance approval or rental income is assumed in this fictional brief.
Discuss your own circumstances
A similar loan amount or property type does not mean the same finance is available. Income, commitments, credit history, the property and current terms need an individual assessment. Tell Jack what you want to achieve and any part of the plan that remains uncertain.
Prepared for Jack Cousins, Head of Mortgages at Lockhart Murphy. Updated 10 November 2026.
About Jack · How site content is prepared · Fees and service details