HMO Conversion – Local Success!
This beautiful house share is the latest project by Property Point Investments and is what valuers have been commenting on as a market leading HMO. Clients of ours since 2016, we have been providing funding solutions to enable Property Point to acquire their properties which are in need of heavy refurbishment.
Short term finance in the form of a bridging loan allows the client to acquire, refurbish and convert the property into a HMO before refinancing on to a long term HMO mortgage. Click here to see all recent projects. Property Point also work with private investors and offer great returns! More details can be found on their website www.propertypointinvestments.co.uk
Bridging Loans are the most flexible property funding solution in the market. These short term options ( 1 to 24 months) provide funding quickly to time critical cases. Bridging used to be an expensive form of financing but new products from lenders now offer quick, cost effective solutions at 5%+ per annum for light refurbishment and 7%+ for heavy refurbishment.
Further product improvements mean bridging loans have developed to provide flexibility for properties in need of light or heavy refurbishment.Loans can provide funds to acquire or refinance the property and then provide additional funds for the cost of works and interest payments.Thereby maximising leverage and improving return on investment.
For more information on how Advocate Finance can help you with your Property Development Finance, including short term financing options, please get in touch.
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