Below are a few case studies describing the types of projects that we lend on. We are flexible and will end on most types of property. We do not lend to owner occupiers on their dwellings.
Classic house/flat refurbishment
A local builder/developer purchases and modernised house at auction and plans to spend 3 to 4 months refurbishing it and then sell on. We can provide a decision in principle within 24 hours and following the completion of an application form issue a facility letter (mortgage offer) and instruct solicitors. We can lend 60 to 70% of value or purchase price for up to 12 months with all fees/costs and interest rolled up. No monthly repayments just a single redemption payment on the sale of the property.
Building plot purchase
A regular quality developer is just completing building a new house and wishes to buy another plot to move his workforce onto before selling. We can provide a 12 month loan on the plot to enable him to continue working. We can also provide a further advance when the house is completed to help cover the sales period.
Planning gain/trading opportunity
Having agreed to purchase his local closed down pub a customer planned to obtain consent to convert into six flats and then sell on at a profit with the benefit of the planning consent. We can provide a loan based on the existing value of the pub enabling him to do this and make a profit.
Buy to let investment
A client wished to purchase at auction a house arranged as four flats as a long term investment. Only two of the flats were let and the other two needed refurbishment. We can provide a loan to enable this to happen and for him to tidy up this investment. He will then refinance long-term with a specialist buy to let lender.
If you are looking to apply for development funding, auction, bridging or business finance, feel free to contact us for an informal discussion about your loan requirements.