7 Day Refurb Bridge in London

Published by Developer Money Market -

Our client needed an urgent 7 day refurb bridge in London as they had found a great opportunity but had a very limited deadline to meet.  The proposed project was for the acquisition and refurbishment of a first-floor flat within a two-storey period property constructed around the turn of 1900. The location was a good residential area of South East London, between Brockley and New Cross, but the property came with opportunities and challenges.

Due is a large amount of Japanese Knotweed within neighbouring properties, this limited the number of lenders prepared to make an offer. The exit would require the Japanese Knotweed to be dealt with otherwise the property would not attract mainstream lenders for any resale.

The client’s initial lender pulled out at the very final stages due to a last-minute change of appetite, therefore, our client required an urgent 7 day refurb bridge to replace them. We set about finding terms from lenders that could complete within this very tight timescale.

Developer Money Market was very pleased to be able to secure a replacement lender and work with all parties to complete the case in 7 days from the point of submitting an application to the new lender.

Funding Headlines:

• Project Location:  South East London
• Project GDV: £425,000
• Funding Type: 7 Day Refurbishment Bridge (Facility completed within 7 days from application submitted)
• Facility Period: 9 Months
• Exit Route:  Open Market Sale or Refinance

The property required updating as the existing fittings and décor were of limited quality and very dated in style. In addition, our client saw the opportunity to make internal changes to convert the property from being a one bedroom to a two bedroom without structural changes.

The property offered attractive character features that, together with being a good residential area, would show significant capital gain following modernisation. Our client got permission from the neighbouring owners to have the Japanese Knotweed dealt with by a specialist that provides a 10-year guarantee.

The development program included a new contemporary kitchen, bathroom, complete redecoration and general updating of the central heating, etc, and would be completed within 6-8 weeks.

Are you seeking a 7 Day Refurb Bridge in London?

If you are looking for an urgent 7 day refurb bridge in London or the rest of the UK then contact Developer Money Market to see what options may be available. We have more than 120 specialist property lenders for development, bridging, joint venture funding, VAT loans and buy-to-let solutions.

You can search instantly here using our loan comparison platform and take advantage of our full application support. You can also learn more about raising 100% property development funding via our YouTube Channel here.