Our borrower was purchasing this freehold house with the intention of obtaining planning permission for conversion into self contained flats. We advanced a high LTP based on our opinion of value as the property was being purchased BMV. We then provided a refurbishment/development facility for the works once planning permission was obtained. No formal valuations or QS visits were required for this loan and all administration was dealt with by us at zero additional cost to the borrower. Repayment was made via refinance.
895k secured against this freehold house

