Bridging Finance for Refurb Projects
GO Financial Services
Enabling property investors, developers, and portfolio landlords to source the finance they need, when they need it.
GO Financial Services. Bridging Finance for refurb projects, how to make it work!
Our client identified a property that was in need of a full renovation but had brilliant potential as a Buy-to-Let. They were keen to secure the asset quickly and also wanted to refinance ASAP, which meant bridging was the perfect source of finance for the case.
As bridging is faster than a traditional mortgage, they were able to get to work on the refurb within a month of having their offer accepted.
After a ￡15,000 refurbishment, the property was in excellent condition within 6 weeks, and substantial value had been added. GO Financial Services advised the client on how to exit the bridge onto long-term finance, whilst capital raising at the new and improved value.
The client added upwards of ￡35,000 in value, and upon refinancing they left just ￡10,000 in a deal that saw them acquire a cash-producing asset with brilliant potential for capital appreciation. This meant that the client pulled out most of their money, and retained a pot of cash to go again and find the next project, all within 6 months.
Looking at a refurb Project? It's good to talk.
Contact the team to see how we can help with your property journey!