Loan type: Short term loan
Loan value: £507,500
Loan purpose: Refurbishment of a derelict building
In Autumn 2015, Mark Forrest of Leaf Forrest Ltd found a run-down property in Broadstairs Kent, ideal for renovation. Speed was of the essence in arranging the finance as the property was being purchased via a sealed bid process and Mark was aware that, if successful, completion would need to take place quickly.
The CPC Finance team was approached by Mark and was able to arrange the short term finance within the timescales required. Completion took place in November 2015.
Mark explains, “We have worked with CPC Finance for a few years now and regularly use the team to source finance for purchasing property through auctions in various locations. You have to be quick off the mark with auction purchases and we knew that CPC Finance would deliver the goods allowing completion to take place within the timescales imposed.”
Mark was able to start refurbishment work on the property and has increased the value of the house significantly – he will now be speaking with CPC Finance in order to arrange a term facility to repay the short term loan.