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Cardiff HMO Bridging for Refurbishment
Arranged bridging finance for purchasing and refurbishing a Cardiff HMO before long-term mortgage.
Key Metrics
£315,000
Loan Amount
0.72% monthly
Interest Rate
5 days
Time to Complete
6
Bedrooms
75%
LTV
Cardiff
Location
£315,000
Loan Amount
0.72% monthly
Interest Rate
5 days
Time to Complete
6
Bedrooms
75%
LTV
Cardiff
Location
The Challenge
The property needed significant refurbishment before it could be let or qualify for traditional HMO mortgage. Bridging finance was needed for purchase and works.
Our Solution
We arranged bridging finance covering both purchase price and refurbishment costs, with staged drawdowns for the construction work and exit to HMO mortgage.
Testimonial
"The bridging finance covered both purchase and refurbishment perfectly. The staged drawdowns meant we only paid interest on funds as we used them."
HD
Helen Davies
Property Developer
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