Area: Chellaston, Derbyshire
Loan amount: £398k
Our client, based in Chellaston in Derbyshire, had sourced a property that was due to go to Auction and required the full purchase price of the property, as the funds he currently had set aside were to fund the renovation of the property.
His plan was then to ‘flip’ it (sell it on) when the work was done.
By using the clients main residence as additional security we were able to raise 100% of the purchase price, giving the client 12 months to renovate and sell the project, recouping his costs and also making a profit from the project as a whole.
Do you require auction finance or any other specialist finance solutions? For our full range of specialist finance options and products call our Specialist Lending team on 01249 474956.