Introducing…Deal of the Week! We want to inspire our clients and other investors so we thought we would regularly share some of the exciting deal news of some of our clients. You can follow our Deals of the Week on social media on Instagram and Facebook.
Here is one of them as an example!
“A client agreed to purchase a residential property at £290,000 with an option agreement to convert to a HMO between exchange and completion.
The client approached us once he had exchanged to arrange the finance post work.
Survey came back at £500,000 as a 7 bed HMO. The valuation was higher than we expected and we decided to alter the application late on, so we managed to complete the purchase with a term facility at 75% of the value (i.e £375,000).
This meant we raised the purchase price and recouped the funds for the conversion.”