We completed a new Bridging loan for a client yesterday.
New clients entering the market as First-Time Landlords, acquiring a property for conversion into a 6-bed HMO.
As many investors know, First-Time Landlords can struggle to secure HMO term mortgages, with many lenders preferring borrowers to have 1–2 years’ landlord experience before considering multi-let properties.
As part of structuring this deal, we demonstrated to the bridging lender that a viable BTL HMO refinance exit would be achievable — giving comfort.
We arranged the bridging facility for the purchase alongside a build loan covering 100% of the refurbishment costs. The term refinance will be arranged alongside the works to ensure a smooth exit once complete.
With their next acquisition already secured, we’ll be structuring the bridging for that purchase so they’re ready to move as soon as this property is refinanced.
Contact us on:
hello@scalepropertyfinance.co.uk
0117 4274568
