This week we completed an application for a long serving customer of ours and here is the breakdown…
The client approached us with the proposition to purchase two houses on one title using bridging finance, which the previous owner had interlocked to one open plan single dwelling.
The client’s intentions are to split the title for each property whilst carrying out a full refurbishment programme. We were able to secure 85% of the purchase price of £110,000.
The valuer has confirmed a GDV figure for each house to be worth £100,000, we have pre agreed two BTL Facilities for the client to refinance onto a long-term mortgage.