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Case study: No PGs

The client was purchasing a tired 4-bedroom detached coach house with the intention of extending and refurbishing the whole property to create 4 en-suite bedrooms together with a modern open-plan living space.


The Basics:

  • Initial loan of £286,000.

  • Rate: 0.85%

  • Term: 12 months

  • 3 Instalments of tranche funding to pay for works

  • Asset Manager visits during works

  • PGs not required


The client didn’t want to give Personal Guarantees on the project, as this was how they operated. Therefore, they were finding it hard to source a lender who would lend using debenture only.


They required funds towards purchase and works. Together with a reinspection on completion of works to release funds for their next project. Then, schedule of works was provided and passed onto the valuer to confirm GDV for exit.


The property was down-valued by £10k. This caused no issues, so the loan was completed.

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