Client wants to purchase property within his Ltd company for £83K. Property is lettable in its current state, but he wanted to carry out some works and then let it out.
Matt placed with Precise as they were able to do a bridge to let: bridging loan with 6 months to complete works and then the property valued once all works completed and then the bridge is flipped to a BTL mortgage. Using the bridge to let product reduces the lenders fees and valuation costs and you know in advance you have the takeout finance already pre-approved.
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