The bank was approached by NM Finance, one of its “strategic partners”, to try to arrange finance just two weeks before the purchase was due to complete.

As well as having to arrange a speedy valuation of the two-bedroom freehold property, Shawbrook said that contract issues emerged the day before completion, which then required two land transfers to take place on the same day.

The lender provided a £155,000 interest-only bridging loan, at 75% loan-to-value, over a 12-month term with the borrower intending to carry out renovation work on the property before letting it out and moving to a buy-to-let loan.

Max Mace, managing director of NM Finance, said that it was a “complex case with an aggressive timeline” but said that it was clear from early on that Shawbrook would be a good fit.

Gavin Seaholme, head of sales ‒ property at Shawbrook, added: “Working closely with our partners to overcome challenges quickly and efficiently is essential in any case, but it’s especially important with tight timescales such as these. This is a great example of working as a team to deliver the best outcome for the customer.”