Refurb Bridge with 1% Arrangement Fee

Deal Structure

75% Loan to Value NET on Day 1, based on Open Market Value.

plus 100% Costs of Works (in tranches, in arrears).

£667k gross facility amount.

1% Arrangement Fee (no additional Broker Fee).

Interest at 0.79% pcm.

No Exit Fee.

12 months term.

Asset Manager monitoring meant No QS costs.

Deal Summary

An investor who was active in the HMO sector had a residential property purchase lined up on a property which he intended to convert to a HMO and ultimately retain for longer-term investment purposes.

He had existing relationships with other finance providers but was attracted to Positive Commercial Finance’s 1% Arrangement Fee promotion and decided to explore further given he was used to paying a 2% Arrangement Fee, plus the occasional broker fee.

It was clear that the borrower had a good level of experience and owned 3 other HMO’s, after having been through a similar process which he proposed to do on this next project.

With the 1% Arrangement Fee and no additional Broker Fees, our quote was the cheapest he had seen and therefore he had no hesitation in engaging straight away to take advantage of the promotion and formalise the relationship.

Contact  John Waddicker

07974 703375

[email protected]