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HEAVY REFURB PROPERTY PROJECT FINANCED WITHIN THREE WEEKS

Take a second look at bridging finance

Objective

Mr Smith had purchased an uninhabitable property at auction.  The intention was to refurbish the property and sell on at a profit.

 

The property was purchased for £100k and the Mr Smith required finance at 75% LTV (gross) on a short term basis.

Obstacle

As the property was uninhabitable, it was unmortgageable.  Also, since Mr Smith had purchased the property at auction, he needed the finance in place quickly to meet the strict auction terms.  These circumstances made bridging finance the ideal solution.

Outcome

We were able to secure the full amount required via our partner, Together Money.  The facility was taken over 12 months at a rate of 0.79% per month.

 

The case took 3 weeks from enquiry to completion and the introducing broker received £1925.50 for referring their client to Brightstar.

 

FOR INTERMEDIARIES ONLY AND NOT INTENDED FOR THE GENERAL PUBLIC.

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