Bridging Loan To Renovate Buy To Let Property In Liverpool

Area
Liverpool
Capital Raised
£160K

Clients often approach us for short term finance to renovate and improve buy to let properties either to increase the rent they can charge or to sell for profit. Due to changes in buy to let taxation many landlords are improving existing properties to sell on. At the time of writing we are seeing a lot of buy to let activity in Liverpool and the case study below demonstrates how short term finance can be used very effectively to provide a means to an end.

The Scenario:

The client owned a buy to let property in Formby, Liverpool and wished to pay off the existing mortgage which was coming up for repayment and take out some additional funding to make structural and cosmetic improvements to the house to make it more appealing to residential buyers.

Our Solution:

The clock was ticking as the client's existing buy to let mortgage lender required repayment. We were able to source a 12 month finance solution with a bridging loan lender who was comfortable with the exit strategy as the property was not immediately being marketed for sale.

We arranged for this to be a condition of the offer to allow for funds to be released to pay off the existing mortgage before the work was completed. The refurbishment finance allowed the client to create an open plan structure which made it very appealing to residential buyers and allowed the client to command a much higher sale value.

The application process for renovation finance is relatively straightforward as lenders are not concerned about applicant's income and focus more on the exit strategy. You can read more about renovation finance here. 

 

Jack Spillane

Finance Broker

Bristol

0117 959 5094

Is your situation similar to this? I specialise in helping clients who need creative development finance solutions, and second-charge mortgages. Give me a call any time and we can set up a detailed discussion of the finance you need.

Mathew Phillips

Finance Broker

Bristol

0117 959 5094

Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.

Alex Chambers

Senior Finance Broker

Bristol

0117 403 4324

Are you in a similar situation? I am a specialist in residential and investment property finance for UK and international clients at Clifton Private Finance. Please don't hesitate to get in touch for a no-cost discussion of the finance you need.

Luther Yeates

Senior Finance Broker

Bristol

0117 244 5561

Are you looking for a similar type of property finance? I have extensive experience finding residential and investment property finance for UK and international clients. Please get in touch and we can arrange a time that's convenient for you to discuss your situation.

Sam ONeill

Senior Finance Broker

Bristol

0117 959 5094

Is your situation similar? I am a bridging finance specialist at Clifton. I can find a quick, cost-effective solution for the funding you're looking for.

Robert Gibb

Senior Finance Broker

Bristol

0117 959 5094

Are you looking for mortgage or short-term finance for residential or buy-to-let property (including HMOs)? I have extensive experience in finding property finance solutions for UK and international clients, both as individuals and limited companies. Please give me a call and let me see what I can do for you.

Adam Arnott

Associate Director

Bristol

0117 205 0214

Is your situation similar to this? I have extensive experience of advising clients who need creative property finance solutions. Please get in touch and we can arrange a time that suits you for a detailed discussion of your requirements.

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