Incomplete Property Loan


Incomplete Property Loan

Found a property that you can purchase for a fraction of its potential value? Have you found a property that requires major modernisation but you cannot obtain mortgage finance due to its current incomplete and poor condition? Why miss out on a profitable transaction? Why not purchase and complete the renovations using bridging finance and then either refinance to a lower rate mortgage deal or sell the property at a profit once the work is complete?

Purchase of an incomplete/run down property using bridging finance

Example:

Our client purchased a partly renovated house without a kitchen and bathroom. After being refused mortgage finance from his bank, our client asked us to arrange a bridging loan to purchase the property. After renovation, the house could now qualify for a mortgage and our client did this to repay our bridge.

Last Updated: Jan 19, 2017 @ 3:27 pm
NACFB

UK Property Finance is Authorised by The Financial Conduct Authority (FCA)

Association of Bridging Professionals
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