Case Study - €560,000 Equity Release in Dublin

Onate’s tailored approach to bridging finance shows the important role in enabling a borrower to release equity from their own properties, and take advantage of opportunities that would have previously only been available to cash buyers. Over the past four years, Onate has helped over 100 borrowers to achieve their goals. This case study highlights how an equity release can enable borrowers to take advantage of time sensitive transactions.

In May 2024, Onate was approached by an introducer who had a requirement for a borrower to release equity of an investment property in Dublin in order to purchase a new family home. The vendor of the property required a quick sale and were offering the property at a slightly discounted price if they could close on the house within 4 weeks. The borrowers had an unencumbered property that they were looking to sell in order to fund this transaction, but this would not be possible in such a short time frame.

Onate worked with the introducer and a term sheet was approved within 24 hours. As the investment property would be vacant and no income would be generated during this process Onate were able to offer an element of interest rollup. This meant that the gross loan was increased to cover the first six months of repayments. Onate’s flexibility allowed for a tailor made solution to suit the needs of the borrower in this particular transaction.

Once the borrower had reviewed the term sheet with the introducer and his solicitor a due diligence fee was paid. Onate scheduled an all party call with the introducer, Onate’s panel solicitor, and the underwriters. With the closing date for the new property only a few weeks away, it was important to outline all of the required items needed to drawdown the loan and identify who was responsible for each. Onate scheduled regular catch-up calls to ensure that momentum continued right up until drawdown.

A loan of €560,000 was drawn in June 2024 (44% LTV) and the borrower was able to secure his property at a discounted price. His own property was then put on the market in June and he was able to achieve a price in excess of the original guide price. If he had to push through the sale quickly to secure the other property, he would not have had the benefit of a full marketing campaign, and as a result, may not have achieved the maximum price for his own property.

If you're ready to explore new opportunities and need a financial partner who can rise to the challenge, contact Onate now:

Michael Gavin | michael@onate.com 0851454200, John Ring | john@onate.com 0878305276 Or Niall Hurson | niall@onate.com 0838000227