We provided a £206,000 bridging loan for Liverpool house empty for over a decade!

The borrowers have more than 20 years of experience in the construction industry and are undertaking the majority of the refurbishment works themselves. They have also committed approximately £100,000 of their own funds to the project, demonstrating significant commitment to the scheme. The project is already progressing, with the borrowers having cleared all waste from inside the property, removed the damp plaster and rotten timber flooring, and cleared approximately half of the waste from the front and rear gardens. The next phase of works will include specialist electrical and damp-proofing works, alongside landscaping and the removal of the remaining external waste. Once refurbished, the property is expected to generate healthy rental income, with the borrowers’ planned exit being a refinance onto longer-term debt.

Shahed Popat, Relationship Director at Black & White, said: “While the property presented a number of challenges, the borrowers had the experience, capital and clear strategy required to take on the project. “The property’s condition was significant, but it was only one part of the overall picture. With more than 20 years of construction experience, a substantial personal investment and a clear plan to refurbish, let and refinance the property, the borrowers demonstrated a strong understanding of how they could unlock its potential. This is exactly where specialist lending can add value. By understanding the people behind the transaction, as well as the property itself, we were able to structure a facility that gave the borrowers the funding they needed to get the project moving and that will eventually provide much needed accommodation to the area.”