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Case Study: Dringhouse 2nd Charge

The clients were experienced in property development and required funds to repay a 2nd charge to fund another project.

The property was a brick built semi-detached house under a machine tile roof, originally built in the 1960’s. And it has recently been extended and refurbished to a high standard, which can be seen in the following photos.

The property was the client’s main residence, and on the market. It had 9 offers above asking price. One had been proceeding but had fallen through, so the estate agent went back to other offers.

Our offer?

Our team could offer an initial gross loan of £172,250 (65% LTV). We helped fund another project (£83,000) and finish off further development.

Before and After photos:

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