Refurbishment Bridge in Yorkshire Case Study

The restoration of this Victorian building from commercial to residential is an illustration of refurbishment bridge funding in Yorkshire.  Our client required a refurbishment bridge loan to purchase a commercial property and achieve a change of use from commercial to a residential home.

Funding Headlines:

Project Location:  Harrogate, Yorkshire

Gross Facility:  Around £700,000

Project GDV:  Around £1,000,000

Funding Type: Refurbishment Bridge

Purpose of Loan:  Acquisition and refurbishment

Facility Period: 9 Months

Exit Route:  Refinance

Bridging Finance Criteria

Loan to Cost (LTC) – this can be as high as 80% in some cases

Facilities from over £25,000 to more than £50 million

Maximum term typically 36 months

Geographical area – UK wide but each lender will have their own preferences

Development types – Each lender will have their preferred development types, sometimes only residential

Experience – Many lenders will want to see a proven track record but some will accept first-time developers

If any of the above terms are unfamiliar then you might like to read our article on finance jargon.

Are you seeking bridge finance?

If you have a project for which you require bridge finance, then contact Developer Money Market to see what options may be available.

Contacg us today on 01244 953 360 or drop us an email here.

You can also learn more about our products and services via our YouTube Channel here.

For more information on Refurbishment Bridge in Yorkshire Case Study talk to Developer Money Market