Residential Bridge

House Extension in Bristol

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What Our Borrower Needed

A return borrower required funding for both purchase and development, expanding a 5-bed HMO into a higher specification 7-bed HMO in Bristol.

How We Helped

At first glance, this was a straightforward loan for Think. HMO conversions is something we do very often, but upon further due diligence, underlying title issues were found which caused months of delays. At this stage of an application, we know our borrowers’ have already invested time and money into the project. Hence, withdrawing our offer is something we desperately try to avoid; luckily, we managed to do just that for this loan. It took 6 months in total for solicitors to resolve the issues, but we knew this was too good a deal to miss for our borrower. We revised a new offer and managed to complete within 4 weeks!

We know the issues on this loan were out of our borrower's control, so being able to complete eventually was a great feat for everyone. The pictures look great and the property is now fully let!
Elizabeth Davidson, Loan Originator.

* Working days from offer to completion