Case Study
Bridge finance for the purchase of 2 flats in East Sussex
Purchasing a block of 2 flats through distressed sale, Beaumont were able to complete rapidly using the borrowers personal residence as security. Beaumont lent 100% of the purchase price enabling the borrower time to refurbish and re-mortgage.
Loan information
Loan value
£170k
LTV
25%
Loan duration
9 months
Interest rate
1% per month
Arrangement fee
None
Exit fee
1%
Why the developer chose Beaumont
- Ability to complete within 2 working weeks
- Flexible approach to security
- Ease of communication
I worked with Beaumont on a loan for purchasing two distressed flats for development to BTLs. A fairly simple project but due to needing the funds quickly, we used other security options to speed things up. Beaumont were very quick to respond and great to work with the whole way through the process.
“
Oliver B, Hastings