Case Study: Auction Purchase
Borrower purchased a property at auction. The property was originally built as a residential home, but had a planning change and was being used for offices. The borrower, an experienced property investor, had a proposal to reinstate the planning consent to residential and to convert it to two apartments. Funds were provided which included taking security on an additional property with plenty of equity in his existing portfolio, which allowed us to provide sufficient money to lend 100% of purchase plus all of the conversion/modernisation costs. This loan completed inside 7 working days – a prime example of our ability to structure and engineer a deal that worked for the borrower and produce a result with speed and efficiency when needed.
Finance provider: Bridgebank Capital