Commercial Finance Brokers (UK) (CFBUK) was approached by a client who is a property developer and a professional landlord and who currently owns 7 buy to let properties. He also had carried out a lot of property refurbishments and conversions.

Previously he had done this with his own funds but he’d found his next property project which was then a detached house which he wished to convert into 5 flats. Our client wanted to fund the conversion works but was seeking bridging finance to assist him with the purchase of the property.

The deal consisted of the property purchase price of £800,000 less client cash of £240,000. So the client was seeking £560,000 plus fees and interest for 12 months. Bridging finance to be repaid once the flats were completed and sold.

CFBUK rose to this challenge and helped the client to raise the funds required using their expertise and knowledge of the market.

A lender was found at acceptable terms to fund the project at Bank Base + 4.5% for long enough to ensure repayment from sale proceeds.

CFBUK Case Study 3 - BTL Property Development