Case Study
Benjamin Peace, supported by Lewis Seethiah, recently completed a £270,000 refurbishment bridging loan for a returning client who had purchased a fire-damaged residential property at auction. The asset required a full refurbishment throughout due to the extent of the damage.
With a tight auction deadline approaching, speed and certainty were critical. The team structured the deal at 85% LTV with a rate of 0.98% per month, despite the challenges associated with valuing a fire-damaged and non-standard asset.
The deal was submitted to LendInvest on 22nd January, with the valuation carried out just four days after quotes were issued. The transaction then progressed efficiently through to completion.
The loan completed in 2 weeks and 1 day, enabling the client to secure the property and move forward with their refurbishment plans. This transaction highlights the importance of responsive structuring and lender coordination when working against auction deadlines.
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