Lee was moving an HMO from a bridging loan onto development finance. A simple switch. The lender said it would take a couple of weeks.
Then the lawyer disappeared for two or three weeks at a time. The lender's business development manager went quiet for two months, until Lee complained to his bosses. The broker and the lender spent two months blaming each other over one redemption statement.
He couldn't walk away. The surveys and legal work were already paid for. So he kept chasing.
Seven months later the loan came through. The wait had cost him £35,000 in interest.
