We were approached by a client who had been referred to us by @savoysproperties, we began to arrange finance for the purchase of a Freehold Semi Commercial Building consisting of a ground floor shop below a two-bedroom flat with a prefabricated concrete garage.
The client’s intent was to apply for planning forwarding multiple proposals comprising of the following, converting the 2 Bed Flat into a 5 Bed HMO and the garage to be converted into a 1 Bed Flat.
With these works in mind and the client having no experience, we decided to utilise the GameChanger product to fund the day 1 purchase using bridging finance and pre-approved funding for 100% of the works to be carried once planning has been approved.
Our end result will be to refinance the freehold, releasing all the capital left in the project. We will keep you updated on the progress in future posts!