Project Description

  • SOUTH WEST

  • 526,000

  • 9 months

CHALLENGE

  • To support a borrower who is progressing with a new property development venture and using bridging as part of their buy, renovate and sell property model
  • Their next investment opportunity to follow on from the completion of their first property refurbishment project, with finance provided by Mint Bridging
  • The loan was needed to help contribute towards the purchase and renovation costs of a mock Georgian detached house built in the 1930s

APPROACH

  • We provided a first charge loan with a retention release to cover the costs of the planned refurbishment
  • Our portfolio manager and asset manager worked closely with the borrower at the outset and throughout the duration of the refurbishment to help them achieve their project timescales and bring completion in on time
  • They have a wealth of experience managing the development and refurbishment of properties and were on hand to contribute to the success of the investment project

RESULT

  • The property has undergone complete renovation and from a dated unoccupied property has now been transformed into a superb four bedroomed house and a significant increase in the value

“The property has undergone complete renovation and from a dated unoccupied property has now been transformed into a superb four bedroomed house and a significant increase in the value”

Sinead , Mint Bridging