An 11-bed HMO conversion on a pub in Hampshire​

The borrower approached us to refinance an existing loan on a pub, that we had originally helped them acquire with a purchase loan, while planning permission was being secured.

The pub was being converted into an 11 bed HMO with a small commercial unit, and we were able to fund 100% cost of works to complete the project.

𝗤𝗨𝗜𝗖𝗞 𝗟𝗢𝗔𝗡 𝗢𝗩𝗘𝗥𝗩𝗜𝗘𝗪
🏠 Max Gross Loan: £715,000
🏠 Cost of Works: £463,000
🏠 LTGDV: 65%
🏠 12-month term

Oliver Jenkins, Senior Internal BDM says: “Really pleased to be able to support these clients and our introducing partner on this deal. We initially assisted with the acquisition of the asset whilst the clients finalised planning permission, so it was great we were able to help in progressing this to the next stage of the project and provide the full works costs to complete. I look forward to seeing the completed asset!”

For more information on our HMO Conversion loans, click here.