Derelict property purchase & bridging finance.

Derelict properties by definition are uninhabitable and as such getting term mortgage facilities are quite a challenge. However, when you get the right property, the returns are extraordinarily high! That's why carry derelict property investments requires grit!

Buyers should consider several important factors when purchasing derelict properties. Firstly, it is crucial to assess the extent of the renovations needed and calculate the potential costs involved in restoring the property to a liveable condition. Conducting a thorough inspection with the help of a professional is highly recommended to uncover any hidden issues that may arise during the renovation process.

Additionally, buyers should research the local regulations and zoning laws to ensure that the property can be renovated according to their plans. It is also wise to consider the location of the derelict property and its proximity to essential amenities such as schools, hospitals, and public transportation.

Moreover, buyers should have a clear vision of their desired outcome for the property and be prepared for the time and effort required to bring their vision to life. Patience and careful planning are key when dealing with derelict properties, as the renovation process can be challenging but ultimately rewarding.

Bridging finance lending is the right finance facility to use when dealing with derelict properties given their flexibility as short term loans that are easily processed and can avail the much needed liquidity within days. Thankfully quite a good number of lenders will provide you up to 75% of the property purchase price with a monthly interest of between 0.85% to 1.5% per calendar month.

By carefully considering these factors and seeking guidance from real estate professionals, buyers can make informed decisions when purchasing derelict properties and turn them into beautiful homes or profitable investments.

Are you selling a UK derelict property? or in need of #bridging finance to buy and refurbish? Our team at Proactive Consult can help! We specialise in unregulated specialist mortgages, ownership structuring, and property development for both UK residents and foreign nationals. Contact us at [email protected] to discuss unregulated buy to let mortgages, development finance, and general property finance brokerage.

Please note that the information provided in this article is for general information purposes only and is not intended to be advice to any specific person. As always, we recommend seeking professional advice before taking any action based on the contents of this publication or other materials on our page.

William PW Omony MBA is a Property Investment Strategist, Property Finance and Mortgage Consultant at Proactive Consult .