Refinancing Semi Commercial Properties Following Probate IssuesOctober 15, 2023
Bridging Loan on Part Completed DevelopmentOctober 15, 2023
Bridging Loan and Refinancing for Development
Bridging Loan and Refinancing for Development.
Loan Value: £3,400,000
A client was looking for funding to assist with the development of a 32 bedroom conversion, and 4 mews houses.
The Interesting Stuff:
The client was developing a 32 bedroom conversion and 4 mews houses in Liverpool and contacted us for funding.
We worked with the client from the outset and provided an initial bridging loan, to allow the client to complete against the enhanced value of the properties due to the planning already agreed.
The initial loan allowed the client to purchase the site with no additional capital required and refinance their costs to date, together with further funds to prepare for additional planning.
Once the client was ready, we then gained approval for the refinance of the bridge loan and the full funds needed to complete the works on the scheme.
How we helped:
Due to the previous credit issues and the location many lenders would not consider this development. We used our specialist knowledge and presentation skills to organise a reliable funder who could work with us and our client.
Our help in action …
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