Case Study: Bridging Finance of €975k provided in Dublin

In May 2022, Onate was approached by a valued introducer with an opportunity to fund a debt settlement secured on a large 4-bedroom house in Dublin.

The promoter had secured the debt settlement from the fund and needed to close out the refinance within weeks.

Given the time sensitivity of the transaction, Onate acted quickly and an approval in principle was issued on the same day.

Once the due diligence fee was paid, the Onate team acted quickly to instruct the valuation and arrange an all-party call with the promoter, introducer and both sets of solicitors. This gave everyone an understanding of what they needed to happen to close out the transaction in advance of the settlement date.

With all parties focused on the debt settlement date, Onate was able to provide a facility of €975k before the settlement date which ensured that the promoter was in a position to comply with the debt settlement agreement terms.

The promoter subsequently put the property for sale on the open market and the sale led to the loan being repaid before the end of the 12 month loan term.