Auction purchase, Basildon
We helped an experienced landlord purchase a flat at auction to add to their expanding portfolio, and will lightly refurbish the property which they are self funding.
Amount Funded:
£153k
PRoduct type:
Auction Bridging
Term:
12 months
property:
Leasehold flat
exit:
Refinance
The borrower is an experienced landlord who is adding the auction-purchased property to their portfolio. The property requires light and full internal refurbishment, which they'll self-fund. The property is a 4-bedroom maisonette with 1 bathroom and a garden flat in Basildon, Essex. It has private off-street parking and is close to the train station.
Borrower review:
I recently completed a bridge loan application with Black and White, and the experience was excellent from start to finish. The team was very helpful, easy to communicate with, and quick to resolve any concerns I had. Suze and Magnus, in particular, provided outstanding support throughout the process. Everything was completed in less than two weeks, which was incredibly efficient. On top of that, their interest rate was fantastic—easily among the top five best rates in the market. I highly recommend Black and White for their professionalism, speed, and competitive rates.
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Amount funded
£1.6m
PRoduct type:
Commercial Bridging
term
7 months
property:
Commercial office
exit:
Refinance
Commercial Bridging
The funding supported the acquisition of a strategically located semi-commercial asset in Birmingham, giving the borrower the flexibility and speed required to purchase the property prior to setting up development finance to undertake the proposed conversion works. The borrower plans to transform a former office building into a high-quality residential block of flats comprising 75 apartments, including 42 x 1-bedroom and 33 x 2-bedroom units. Full planning permission has already been obtained before completion, enabling the borrower to move forward with the next phase of the project.
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