Description of Loan:

A loan to facilitate the purchase and refurbishment of a residential property that will be converted into an 8 bed HMO.

The Solution:

Finance provided to allow the initial purchase with additional funding to create an 8 bedroom HMO.

Loan Amount:

Initial advance £72,150

Additional:

Further advance £74,000

LTV:

65%

LTVGDV:

64.95%

Interest Rate:

1.3%

Loan Term:

15 Months

The Outcome:

Funds were provided to allow the purchase and refurbishment of the property to create an 8 bedroom HMO property .