Peterborough £649K

Refurbishment

Gross Loan

£649,784

Loan Type

Refurbishment

Term

12 Months

LTGDV/LTV

65.0%

Annual Rate

9%

Monthly Rate

0.75%

The property comprises of two freehold titles which are currently occupied by a 2-bed house and a single storey shop; it benefits from consent to convert and extend the side and form 9×1-bedroom flats. The borrower had originally planned to use insulated panels for pre-fab construction however, Avamore identified that this method could potentially cause mortgageability issues when it came to selling the site.

Avamore therefore worked closely with the Monitoring Surveyor to understand how costs would be impacted using traditional construction methods instead. It was clear that there would not be a significant change to build costs and so the borrower was able to amend their approach to avoid longer term challenges.

“Avamore made sure there was clear communication throughout the process and therefore provided a straightforward experience for all parties. The team acted with strong due diligence at every stage and ensured that all decisions were made in the best interests of my client. “

Share:

Share on email
Share on twitter
Share on linkedin
Share on facebook

YOU MAY ALSO LIKE TO VIEW

Refurbishment
Ground Up
Residential Bridge