Light refurb on a seven bed HMO in South Wales

Our broker’s client, an experienced landlord, was purchasing a seven-bedroom HMO with a plan to refurbish the property and create ensuites for the bedrooms.

The works were covered by the existing planning permission. To release the funding required for the project, the borrower also offered an unencumbered buy-to-let property as second security.

𝗤𝗨𝗜𝗖𝗞 𝗟𝗢𝗔𝗡 𝗢𝗩𝗘𝗥𝗩𝗜𝗘𝗪
🏠 Gross Loan: £424,000
🏠 GDV: £552,000
🏠 Light refurbishment
🏠 12-month term
🏠 Exit strategy: Refinance

Rachel Thomas, Underwriter, commented: “This was a straightforward light refurb loan for an experienced borrower, looking to add to their buy-to-let portfolio through the acquisition of an HMO they could upgrade. A big thank you to the broker for their support in helping bring this loan to completion.”

Whether it’s Light Refurbishment, Bridging, Auction FInance or Development Finance, we’re here to help brokers find practical solutions for their clients.