Bridging refinance on a HMO
We class a BTL – Buy to Let and a HMO House of Multiple occupancy as both semi commercial assets as the owner receives an income from the tenants.
New case just came in as follows –
Client has a 950,000.00 asset, no mortgage and requires a net loan of 550,000.00 due to divorce, oh dear but, do not worry as www.bridgingfinancenow.co.uk are here to help and soften the blow in next to no time.
Rental income is 7,200.00 per calendar month
Client has 4 weeks to complete and all being well, we will be able to organize the funding he requires and have him refinanced away to a long term mainstream lender.
Client requires a little assistance as the EPC Energy Performance Certificate carried out 2 weeks ago noted around 10,000.00 of works to be done.
My funders have seen the EPC and giving terms with a note that all works are to be done within 30 days of completing the funding from the bridging provider
Valuation is to be carried out tomorrow and the report will be back within 3 days.
Due to the client being an estate agent who has confirmed market value and that, the asset is good security for lending upon, he has requested we even commence legals now which we can do as well.
This is the flexibility of short-term bridging finance to assist the customer in getting from A to B and rendering a solid professional and understanding service.
www.bridgingfinancenow.co.uk and www.bridgingfinancecapital.com