United Trust Bank was approached by a broker looking to assist their clients with £200,000 of funding to complete various improvements to their home including building a new garage and gym, creating a new master bedroom suite and adding additional rooms and storage. Building works were already well underway with the property in its transitional stage and still 4 months away from being completed.
Once the works are finished the home will offer 5/6 bedrooms and be valued at around £4.25m. At this point the customers will exit via a remortgage to consolidate their debt.
| Borrower | Personal borrower |
| Amount | £200,000 |
| Loan Type | Second Charge Regulated Bridging Loan |
| Location | Home Counties |
| LTGDV | 47% |
| Term | 12 months |
| Loan Purpose | Refurbishment and improvements |
| Special Features | Exit via remortgage once works complete |