Refurb Bridge in Hampshire
This borrower required funds towards the purchase of a cottage with plans to refurbish and modernise the property.
This time round the borrower had already exchanged on the property and required a quick and seamless completion. Also, while they were initially covering the refurb cost themselves, just before we completed the borrower wanted funds for works as well. We ultimately ended up funding both acquisition and development of the cottage for cashflow purposes on behalf of our borrower. Since this project, we have worked on two other with this borrower who has great insight into property development, having completed on several large multi-unit developments. Their significant experience really pushed this deal forward, and we can’t wait to do more loans with them.