For this month’s loan, the team wanted to exemplify our USP of easy quick funding. This was our first time working with these borrowers who owned an unencumbered mixed-commercial unit in Liverpool. Currently a 9-bed HMO, the property benefitted from planning approval to convert it into a higher standard 8-bed HMO, achieving a greater rental yield.
Our borrowers were relatively new to the world of bridging finance and property investment. So, while they needed money fast, we also wanted to take our time to explain to them what is involved in bridging finance, and how they can grow with us. The property had no recent valuation done, but even so we provided £143k in 11 working days.
Bridging and development finance doesn’t have to be for the big scale developers with massive portfolios, it can also be beneficial to the everyday person who is exploring different avenues of income and wanting to get started on their investment journey.
We lend to all types of individuals; if you are just starting your property journey and want to explore bridging finance options, get in touch today at the number above.