Case Study: Refurbishment Loan - £209,500

This was a 12 month refurbishment loan in the North West.

CHALLENGE

• The property comprises of a four bedroom semi-detached house, built in the very early 1900s
• The property generally has a tired and dated appearance - full refurbishment and upgrading works were required
• A good sized family home with rear garden and off road parking with excellent demand for owner occupiers
• Funding provided for the purchase and refurbishment of the property

APPROACH

• The borrowers were experienced developers who had previously sourced properties for conversion to HMOs, initially for clients, then for themselves
• Our experienced Asset Manager was still on hand to offer advice and add value from the outset

RESULT

• The refurbishment was completed to the agreed schedule and to an extremely high standard
• Further new loan facilities have been completed and are progressing from building a great business relationship