Heavy Refurb Bridging Loan

May 27, 2020 | Case Studies

Loan type Standard bridge, allowing for medium renovation
Loan size £1.75 million
Loan term 12 months
GDV £3 million
Property/asset Detached hotel building built in 1900s, c.2,000 sqm
Property location A popular and busy town on the south coast
Borrower Experienced borrower with similar, successful local businesses
Loan purpose Borrower needed short-term finance to renovate the hotel, converting second and third floors to Airbnbs and the ground and first floors to office and restaurant space.
Loan exit Refinance to commercial mortgage