Case Study: Bridging Finance for a Residential Acquisition in Co. Wicklow
The Opportunity
Earlier this year, Onate was approached by a property promoter who had agreed to purchase a six-bedroom detached residence in County Wicklow for €1.35m. The borrower had already signed contracts and was under pressure to complete within four weeks, creating a requirement for a fast and reliable short-term funding solution.
The promoter’s goal was to complete the acquisition and subsequently refinance the asset onto a longer-term facility. However, the tight completion window ruled out traditional bank financing, prompting the borrower to seek Onate’s support.
To strengthen the funding structure, the promoter offered an additional unencumbered residential property valued at €490k. This enabled Onate to release equity from the second asset, reducing the borrower’s required cash input in the transaction
Our Solution
Onate provided a €1.2m loan, secured against combined assets valued at €1.85m, representing a loan-to-value (LTV) of 67%. A term sheet was issued within 24 hours, and Onate’s credit and legal teams worked closely with the borrower’s solicitors to ensure the transaction completed on schedule. A 12-month term was agreed, giving the promoter ample time to execute their refinance strategy.
The Result
In practice, the borrower successfully refinanced onto a term facility within six months, benefitting from Onate’s no early repayment penalties.
This case demonstrates Onate’s ability to:
Deliver efficient and flexible bridging finance solutions
Execute transactions quickly and reliably under tight timeframes
Structure funding to support borrower liquidity and long-term goals
By combining speed of execution with tailored structuring, Onate helped the promoter complete the acquisition smoothly and transition to long-term funding well ahead of schedule.
Contact Us
To get in touch with Onate about an opportunity you have, please reach out to one of our team:
John Ring | john@onate.com | 087-830 5276
Michael Gavin | michael@onate.com | 085-145 4200
Niall Hurson | niall@onate.com | 083-800 0227
