Shawbrook delivers speedy bridging facility with refinance onto semi-commercial loan, within just 2 months
End-to-end finance solution enables quick HMO (House in Multiple Occupation) auction purchase.
At a glance
The Real Estate team recently helped a client acquire a semi-commercial property at an auction. With a deadline of only 20 working days to complete the purchase, our specialist team moved quickly - first securing a bridging loan at 75% LTV, then fast-tracking the refinance for a semi-commercial loan following a new valuation.
At the time of acquisition, the property was fully vacant, lacked an HMO licence, and required refurbishment. The loan enabled the client to:
- Complete the purchase within one month
- Carry out the necessary refurbishments
- Obtain the HMO licence
This refinance facility raised more than £20,000 above the original purchase price and is now achieving £60,000 a year in rental income as both residential and semi-commercial units are fully tenanted. Thanks to the quick turnaround by our team, the client was able to purchase, refurbish, and refinance the property - all within two months - demonstrating our ability to support time-critical cases with speed and expertise.
Bridge-to-let deals for semi-commercial properties is a sector Shawbrook have unparalleled products and expertise in. Completing an auction purchase and then refinancing it with capital raising within two months demonstrates this. The fact that Shawbrook can use title insurance on the bridging purchase and then an internal legals and fast track refinance on the term mortgage is the gold standard.
How can we help you?
Our team of experts across the UK are ready and waiting to speak to you about how we can help you realise your property aspirations. Use our enquiry form to get in touch, or contact the team directly through our contact page.