Location: Rainford, Merseyside
Date: January 2022
Property type: detached, part-built
Gross loan: £505,000
Our borrower was in the middle of refurbishing this imposing mansion on the outskirts of St Helens and needed to refinance her existing lender quickly, before finishing off the works and putting the property on the market.
We completed this loan in just five working days, offering up to 80% LTV at 0.80% a month with no exit fee and no minimum interest payment. We didn’t even instruct a formal valuation, instead of relying on our own site visit and a bit of common sense! Though only the ground floor was completed at the time of our visit, we could see the quality of work already finished and had absolute faith in our borrower that she’d deliver a stunning final product.
The borrower was able to refinance away from her existing lender and has now completed the property to an exceptional standard and put it on the market. The house actually became one of Rightmove’s top five most-viewed properties in March!
Learn more about our bridging loan products here.