Complex HMO Conversion loan completed in 21 days with Catalyst
Catalyst showcased the speed and flexibility we are known for, on a recent HMO conversion loan of £297,000 to 75% LTGDV.
The borrower had purchased a 4-bedroom HMO with plans to convert it into a 5-bedroom layout. The property had been operating as an HMO for over 11 years, but it lacked a certificate of lawfulness. Lenders typically require clear legal documentation for HMO use, but thanks to 10+ years of ASTs and a letter of reliance from the local council, Catalyst were able to proceed by relying on Grandfather Rights.
The experienced underwriting team handled the complex legals with confidence, providing a smooth process and fast turnaround, with the loan completing in just 21 days with 100% of the works funded. This is a great example of what Catalyst does best: fast, flexible, and pragmatic lending.
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