Family assistance

Our customer had an opportunity to purchase an investment property with the intention of carrying out works to it, so as to increase the value prior to selling it.

We enabled the customer to purchase the target property by providing a six month loan of circa £215,000 taking a first charge over the target property. This was supported by a third party second charge over another property provided by our customer’s backers who were supporting him in the venture.

We ensured that our customer’s backers obtained independent legal advice and were comfortable both that the customer had sufficient funds to complete the proposed works and that they would sufficiently increase the value of the property being purchased.