Our team created a bespoke solution, providing the full cost of works (£150,000) in three drawdowns. This, alongside the 75% LTV, enabled the borrower to begin the refurbishment immediately. The 12 month term ensured that the properties were built to a high standard and sold without fear of late penalities.
The borrower required funding to purchase a dilapidated house in York and undertake a complete internal refurbishment to bring it to a modern, habitable standard.
This case was a great opportunity to support a fairly new developer in expanding their portfolio. Thanks to our great relationship and competitive rate, we have been able to assist this client with their subsequent development projects.