Walton-on-Thames, Surrey — security property
An experienced property developer secured a £1 million no valuation bridging loan against an unencumbered residence in Walton-on-Thames. By relying on an existing RICS valuation rather than commissioning a new survey, AF Credit completed the loan more quickly while saving the borrower both time and valuation costs.
Walton-on-Thames, Surrey — security property
The borrower needed to raise capital quickly to complete a time-sensitive commercial property transaction in London. Waiting one to two weeks for a new valuation would have placed the opportunity at risk.
Rather than automatically requesting a new survey, AF Credit reviewed and audited an existing RICS valuation alongside current market evidence, title information and comparable sales.
£1,000,000 net completed at 40% LTV over 18 months at 0.89% per month. No survey fees. No valuation delays. The commercial opportunity was secured before the deadline expired.
The borrower was an experienced property developer with a substantial UK property portfolio. Their security property was a high-quality detached residence within one of Walton-on-Thames' most desirable gated developments — owned outright with no existing mortgage, giving significant equity and a conservative level of borrowing.
The purpose of the loan was to raise £1 million to fund a commercial property opportunity that required immediate capital. A traditional valuation would have delayed completion and increased costs unnecessarily.
Fortunately, the borrower already held a professionally prepared RICS valuation produced for a previous funding application. Rather than rejecting it simply because of its age, AF Credit assessed whether it remained suitable for lending purposes.
How We Did It| Item | Detail |
|---|---|
| Property | Luxury detached freehold residence, gated development |
| Location | Walton-on-Thames, Surrey |
| Net Loan Amount | £1,000,000 |
| Loan-to-Value | 40% net (50% gross) |
| Monthly Interest Rate | 0.89% per month |
| Loan Term | 18 months |
| Charge | First charge |
| Valuation Method | Existing RICS report audited and accepted |
| Exit Strategy | Refinance onto longer-term funding |
| Valuation Cost to Borrower | £0 |
AF Credit completed the £1,000,000 refinance without commissioning a new valuation, saving the borrower both time and cost while meeting a fixed commercial deadline.
The borrower was able to deploy capital into their commercial property opportunity before the option agreement expired. The bridging loan provided 18 months to refinance the residential property onto longer-term funding at their leisure.
Unlike many lenders who insist on a new valuation regardless of the circumstances, AF Credit considers whether existing evidence remains sufficient before deciding whether another inspection is necessary. If you are refinancing a property with significant equity and an existing valuation report, there is a good chance a similar approach could be considered.
Related ProductsIf you already hold a RICS valuation — or believe your property may qualify for a no valuation route — AF Credit can usually provide indicative terms the same day. As a direct lender, we assess every application individually.
Get indicative terms todayDisclaimer: Case study details have been anonymised to protect client confidentiality. All lending is subject to underwriting and credit approval is not guaranteed. Any property used as security may be repossessed if you do not repay your loan within the agreed term. AF Credit acts solely as a lender and does not provide financial advice.