Incomplete Property Bridging Finance

Purchase of an incomplete/ run down property using bridging finance

Found a property that you can purchase for a fraction of its potential value? Have you found a property that requires major modernisation but you cannot obtain mortgage finance due to its current incomplete and poor condition? Why miss out on profitable transaction? Why not purchase and complete the renovations using bridging finance and then either refinance to a lower rate mortgage deal or sell the property at a profit once the work is complete?

Example:

You have the opportunity to purchase at a significantly reduced price because the property requires the completion of renovation work. Due to mortgage lenders requiring a property to be habitable at the time of the mortgage this can prohibit obtaining finance on this type of property. We can obtain bridging finance to purchase the property and carry out the renovations required. Once the property is complete you have the option to sell/ refinance the property and repay the bridge leaving you with a substantial profit.