£780,000 Gross

70% LTV | 56% LTGDV

0.99% PM

The brief

Our solution

Underwriter quote

Given the borrower's experience, we were able to provide 70% LTV day one with 100% cost of works, equivalent to 162% of the day one market value.

The client originally came to us for a holding bridge to purchase the hotel and allow time to get planning permission. Once granted, they required a new facility that incorporated development tranches. The funds will be used to convert the derelict hotel into a 20 bedroom HMO.

"It is always a pleasure helping a repeat borrower expand their portfolio. Especially for such an interesting project with multiple facilities involved. We Look forward to seeing the finished development."

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CONVERSION: HOTEL IN SWANSEA