Bridging loans under £500k: 10 bridging deals we completed in June
As the Stamp Duty deadline approached last month, we were working hard to deliver for our borrowers.
Here are just 10 of the deals we completed for clients in June, delivering quickly on purchases, capital raising for deposits and funding refurbishments before transitions on to long term loans.Loan value: £494,572 LTV: 64% Purchase of a bungalow before refurbishment and letting out. A repeat borrower who sold another property, their previous project with us, to support the purchase of this one.
AberdeenLoan value: £475,000 LTV: 50% Extra funds for local developers to cover associated costs on an 80 acre site valued at £12 million, with 4 separate planning permissions approved.
Loan value: £475,000LTV: 75% Purchase of a three-bed terraced house, for the purpose of carrying out a loft conversion and doing a back extension.
——– Basildon Loan value: £382,000LTV: 75% Purchase of property with plans to refurb and convert from 4 bed to 6 bed.
Loan value: £341,250
To capital raise for the purchase of a semi-detached house which they intend to keep as a Buy-to-Let property.—–
Loan value: £318,242LTV: 61%
Bridge-to-Let purchase with intention to refurbish before refinancing to a Buy-to-Let loan.
Loan value: £249,360LTV: 29% Capital raise on a detached house for another investment opportunity.
Altrincham Loan value: £224,000LTV: 70% Purchase of a new property for a light refurbish.
Loan value: £201,000
LTV: 75% Purchase of a property currently unmortgageable because of a low EPC rating, intention is to refurb the property and exit on to a Buy-to-Let mortgage.
Loan value: £180,000
LTV: 75% This deal was originally progressing as a Buy-to-Let with us, but the borrowers opted to purchase it with bridging finance before refinancing to term.