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The borrower required a bridging loan to purchase the property . She has plans to convert the existing 5-bed HMO into a higher spec 6-bed HMO.
At first glance, this was a simple loan for Think as HMO conversions are something we do very often. The borrower required the funds to transform the property into a higher spec 6-bed HMO, while also retaining the retail unit downstairs, ultimately obtaining solid rental income. Works have progressed significantly well with our borrower now looking for their exit. As a flexible lender, we leave the exit up to our borrower, supporting them in their decisions and recommending financial advisors if need be. As you can see our borrower has done a cracking job, and the transformation is unrecognizable.
