A recent completion, on a bridging facility with 100% of the build costs funded, for the acquisition and conversion of a property into an HMO.
Structuring the deal this way means the client is not putting further cash into the works themselves, keeping capital free while the project progresses. The facility supports the project from purchase through to a completed HMO.
The file also carried a multi-party SPV funding structure, with contributions from several related parties including one based overseas, which brought additional source-of-wealth work into the underwriting process.
We will stay in close contact through the works and arrange the exit onto a term HMO mortgage as soon as the build is complete.
If you're planning an HMO conversion or acquisition, get in touch. This is a market we know inside out.
