Case study: Middleton, Manchester
Project completed: November 2019
This week’s featured property is
a superb auction purchase and refurbishment project.
The developers were in need of
fast access to funds to purchase the property at auction. Plus they needed
additional finance for light refurbishment works including a new kitchen,
boiler, electrical rewiring and decorating throughout.
Concerns around the property’s
close proximity to a disused mine shaft meant other lenders were delaying on a
decision. Nevertheless, Mint Bridging’s thorough underwriting process meant the
loan was approved with £112,500 on a first charge over 12 months term. It was ready
for drawdown within 12 working days.
The developers experience has
seen them complete the project way ahead of schedule. The property is now on
the market for an asking price of £219,950.
No comments:
Post a Comment