£375,000 Second Charge Bridge Secured with No Client Income

The Challenge

Portway Finance was approached by a client living in a £4,000,000 penthouse who urgently needed liquidity to consolidate several personal debts, including credit cards, loans, and school fees.

Although the client previously earned a high income, they were currently between roles, resulting in no verifiable income at the time of application. This presented a significant obstacle, particularly given the regulated nature of the loan and the fact that the exit strategy relied on the sale of the client’s main residence.

With a £2,200,000 first charge mortgage already in place, the client required a lender comfortable providing a substantial second charge bridging loan under complex circumstances.

Our Solution

Drawing on our lender relationships and knowledge of regulated bridging criteria, Portway Finance identified a lender prepared to:

• Support the use of funds for debt consolidation
• Accept the sale of the property as a credible exit
• Move quickly despite the client’s lack of current income

We secured a 65% loan-to-value, 12-month second charge bridging facility at 1.04% per month and arranged for both the valuation and legal work to be instructed immediately to avoid delays.

The structure of the loan included retained interest providing crucial breathing room during their transition period.

The Outcome

Portway Finance successfully arranged a £375,000 regulated second charge bridging loan, enabling the client to consolidate all outstanding debts swiftly and restore financial stability.

With the pressure of multiple repayments removed, the client now has a 12-month window to complete the sale of their property and execute their exit strategy without financial strain.

This case demonstrates our ability to deliver high-value, solutions-led bridging finance even when income verification is challenging, providing clients with clarity, stability, and the time they need to move forward.