November 2014 - First 4 Commercial
18Nov2014

Bridging Loan Case Studies

Bridging Loan Case Studies

When you’re looking for finance, it’s useful to know that we’ve helped all sorts of people with all sorts of finance dilemmas. So read two of our bridging finance case studies to find out how a bridging loan could be the ideal solution for you.

Bridging Loan for HMO Conversion

Tim came to us with plans to convert the home he had inherited into a house of multiple occupation. This large Edwardian house was ideal for conversion into flats, yet because he lacked experience in property development, banks were reluctant to lend. However, when Tim approached us after having sought building advice and created plans, we could see that he was able to handle the project.  We provided a 16 month bridging loan for Tim to fund the project, and once the house had been converted, Tim sold it on at a profit to a professional landlord.

Bridging Loan for Auction Purchase

Simi and Nick had been looking for a property to invest in before finding the ideal house for sale in auction. Although they had a deposit and funds for restoration, they were unable to arrange the finance quickly enough from a traditional bank to pay within the required 28 days after a successful bid.  So they came to us to see if we could help them pay for the property within the time frame. We organised the finance swiftly, allowing Simi and Nick to pay for their property, and refinance with their bank to exit the bridging loan.

For more help and useful information go to www.first4commercial.com or contact the team.

first4commercial.com

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T: 01277 620083 F: 01277 658900 E: info@first4commercial.com

A: 5 Alyssum Walk, Billericay Essex CM12 0SS

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