Holiday home purchase, Radlett
We completed this loan in 16 working days from application!
Two borrowers have become joint purchasers to fund the purchase of the property, and there are investors covering the refurbishment costs. They have secured the finance through a second charge.
Amount Funded:
£339k
PRoduct type:
Residential Bridging
Term:
12 months
property:
Semi-detached holiday home
exit:
Refinance
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Quick completion...
The borrowers are joining an experienced property developer who is known to them.The property is a residential, two-storey semi-detached house, with the original structure being of period style and has been enhanced by a modern two-storey extension. It has three double bedrooms, two bathrooms, an open plan kitchen and living room, a gated driveway and a large private garden. The holiday home appears attractive and has a desirable appearance.
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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.
