Within 24 hours we had obtained terms on a 15-month bridging facility lending 70% of the purchase price plus rolled-up interest, at a market-leading 0.79% per month. The total day one advance towards purchase was £686,000, plus 100% of refurb costs, which were an additional £350,000 to be drawn-down for works. The total facility was £1,187,653 against an end value of £2m for the finished property.
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