Bridge to let – to secure refurbishment property

Background

Our client wanted to secure a refurbishment investment opportunity in Huddersfield. The property consisted of 4 configured apartments, with one requiring completion, with an estimated annual gross rental yield of £20,000 making it an appealing proposition for a buy to let investor.

Solution

We arranged a 12-month bridging facility, which meant that our client could secure the property to then finish the works to get the property in a tenantable condition and allow time to source tenants. The added benefit of this facility meant that as soon as the property is in a tenantable state, that he could switch to the same lender’s buy to let product without having to pay any early repayment charges.

Feedback

Our client was delighted:

“Fantastic service would highly recommend them to others” C Parker (Review on Trustpilot), 8 October 2020

Loan Facility: £78,750

Term: 12 months

Asset Value: £105,000

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