100% finance arranged for HMO refurbishment project (October 2011)
An experienced property investor wanted to purchase a derelict HMO at a purchase price of £262,000 and refurbishment costs in the region of £43,000. We arranged a nine-month bridging facility to cover 100% of the project costs with a first charge taken over the subject property and second charge over client’s main residence.
| Loan amount & terms: | £305,000 at 1.15% per month. 2% lender arrangement fee. |
| Property value: | End value £450,000 |
| Completion date: | October 2011 |
| Consultant: | Steve Olejnik, Tel: 01732 471612 |
