Property purchase for a complete renovation

The property is five minutes’ walk from Dunstable town centre and consists of three bedrooms, two double and one single.

The borrower wanted to purchase the property for £235,000 and complete a renovation for £60,000 before renting the property out. Following this the property would be refinanced at a much lower interest rate with a mainstream lender.

The borrower sought a £150,000 bridging loan for six months with rolled up interest and were offering a first charge against the property as security.

We were happy to assist.