- 24th May 2022
- Posted by: DMM
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This case study demostrates how a bridge and refurbishment loan enabled our developer client to quickly secure an opportunity together with funding to complete necessary works. The client owned a former foreign language school with planning to convert to flats and was acquiring two further properties.
Funding Headlines:
- Project Location: Exeter, Devon
- Gross Facility: Around £550,000
- Funding Type: Bridging and refurbishment
- Purpose of Loan: Refinance and equity release
- Facility Period: 6 Months
- Exit Route: Refinance to BTL
Advantages of Bridge & Refurbishment Funding
- Bridging finance is fast enabling developers to respond quickly
- Completion can be as fast as 7 days
- Terms from 3 months +
- Rates from 0.49%
- Used for auction purchass and acquiring site without planning consent