A current customer of UTB wished to raise funds for additional building works on a property which the Managing Director had recently purchased and moved into. Unfortunately, the original builder on the job had significantly overrun on costs and left a number of required refurbishments unfinished. To enable the essential works to be completed within the short timeframe required, a Range Rover car was quickly identified as having sufficient equity to cover the size of advance which would be needed to complete all of the building work
still to be done.
Whilst the financials for the business wouldn’t normally have supported this level of advance, the Director had good equity in his property and a good payment history on his existing finance obligations, both with UTB and with other funders introduced by the same broker.
A swift approval was granted, subject to a satisfactory final inspection of the vehicle by our broker, and funds were sent by same day transfer to allow our customer to resume the building works required to finish off his new home.
Loan Amount: £50,000