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Savoys North: The Game Changer product for the North of England

by | Apr 2, 2024 | Clients

Since 2021, CPC Finance and Savoys Group have been offering the Game Changer, an all-in-one package that means if you have no previous experience with Houses of Multiple Occupancy (HMOs) or have funds but no spare time, you can become the owner of a newly converted, financed HMO.

Now, we have a new Game Changer offering, targeted at the North of England. This new offering is ideal for first-time property investors or experienced investors who are new to HMOs, with at least £50,000 available to invest.

The Savoys North process means that you can secure an initial bridging loan or use your own funds for an HMO conversion project with a smaller cash outlay than purchasing in the South, have an expert develop and manage a property for you, and then secure a term HMO mortgage at the end to exit.

Karl Griggs from CPC Finance explains the benefits of Savoys North, “For those looking to invest, but who might be turned down for HMO finance on their own or do not have a large amount of funds, Savoys North is a great solution. Savoys Group is a team of highly experienced property developers and they will locate, secure, refurbish, and manage a property to provide a high-quality home for tenants for you. You do not need to worry about getting a loan on one of our projects because the combined experience of Savoys Group, CPC Finance, and solicitors Ronald Fletcher Baker LLP, means that lenders on our panel will fund, as long as you have clean credit.”

Further benefits of the Savoys North Game Changer 

  • A commercial valuation on your property: This allows you to effectively undertake the Build, Refurbish, Rent & Refinance (“B.R.R.R.”) strategy and pull out the funds, with the remaining funds left in the deal working hard for you.
  • Guaranteed exit and low refinance fees: You can take out both a bridging loan to start the project and a term HMO mortgage at the end of the loan with our preferred lender. They will use the initial, pre-commercial valuation from the beginning of the project as the basis for the valuation of the term product. You will also not incur additional legal and high refinance fees as the term product is through the same lender as the initial bridging loan.

Who offers Savoys North?

  • CPC Finance, finance broker: CPC Finance is the finance broker for all Game Changer projects. CPC Finance ensures that property finance applications are processed quickly and efficiently until the funding is in place for investors. CPC Finance specialises in sourcing property funding throughout the UK. The firm sources finance for buy-to-let & commercial properties, auction investments, and property developments.
  • Savoys Group, property developer: Savoys Group locates, secures, and undertakes the development and management of the project on behalf of the investor. Malkit Purewal & Sanjay Kumar are multi-award-winning landlords & developers from Savoys Group. The duo has worked in property development for over 20 years and specialised in HMOs for over 10 years. They have now grown a team to help expand their investor clients’ property portfolios.
  • Ronald Fletcher Baker LLP, solicitor: Ronald Fletcher Baker LLP is the exclusive solicitor for Game Changer projects. Ronald Fletcher Baker LLP has been providing expert advice from its offices in the City of London, the West End, and Manchester for over fifty years. Leading this exclusive product launch is Paul Cain, a Partner in the Real Estate department, and a Legal 500 recommended lawyer.

You can find out more about Game Changer on our blog.