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The brief

Our solution

Underwriter comment

With the repayment deadline looming with their previous lender, Funding 365 worked closely with the introducing broker, borrower, valuer and lawyers to create a facility that ensured the borrower had ample time to complete the remaining works and apply for long term finance.

The client required funds to to refinance their existing long-term loan secured against two properties in Brighton and to release cash for their next project. Both properties are registered as HMOs: one is operational, and the other requires cosmetic refurbishment. Therefore, the borrower needed a highly competitive rate to ensure their own funds would cover the refurbishment and still leave cash available for their next investment.

As an underwriter at Funding 365, it's my responsibility to look at a case from every angle and find the potential in the deal. That's what I did here  - and at a rate that allowed the client to refurbish the properties in exactly the way that they had envisioned, whilst releasing cash for their business. Jonathan Brooks, Senior Underwriter

Street House

FUNDRAISE: TWO HMOs IN LONDON

CASE STUDY

£1,700,000

62% LTV

0.79%  PER MONTH

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