17:07 PM, 11th December 2012, About 9 years ago
Cheval’s caption “stress free bridging” could not be further from the truth today.
Cheval is closing its doors to bridging finance after 17 years and intermediaries are reporting concerns about offers not being honoured.
The closure is reported to be as a result of Clydesdale Banks refusal to continue to provide Cheval with a line of credit. Clydesdale Bank is a part of the National Australia Bank which has made no secrets of it’s intention to pull out of the UK market for quite some time.
Cheval customers need not be too concerned though, here at Property118.com we reported in this recent article that over 30 bridging finance lenders remain open for business and that many are struggling to hit their lending targets. This has created competition and bridging finance generally is becoming incredibly competitively priced as a result.
Recent case studies from Property118 readers of bridging finance requests and the terms achieved can be found here >>> Property118.com/bridging-finance-recent-examples/
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