Refurb Bridge

Refurb & Loft Conversion in London

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What Our Borrower Needed

Our borrower required a bridging loan to purchase a flat in London, in order to refurbish the property with a bespoke loft conversion.

How We Helped

The borrower needed as much money on day 1 as possible to purchase the property. However, they were able to fund the refurbishment themselves. We provided 70% of the purchase on day 1. This loan took a little longer than some of our others as the borrower was waiting for planning permission to come through; but once it had, we completed the next week.

Loans like these are how I started Think. Many banks don't like lending against these sorts of projects, because they consider the risk too high. However, when a project like this is in a safe pair of hands, I consider the risk to be very low. Although the LTV may start high, the refurbishment nears completion in a matter of weeks and the LTV drops significantly and quickly.
Justin, Founding CEO

* Working days from offer to completion