A borrower turned to us to help them with refurbishment plans for a property that would eventually be used for a BTL investment. Usually, where we work alongside a broker, certain issues in the underwriting process can be handled relatively quickly.
But, when working directly with borrowers, certain challenges may require more effort to overcome. The underwriter on this case had to deal with a few issues in the client’s background that threatened to slow down the case.
Fortunately, by embracing teamwork and forward planning, we were able to move forward with ease.
Dotting the i’s and crossing the t’s
We were provided with a robust schedule of the works from the outset but even with these details, certain issues had to be addressed before we could issue funding.
Certain verification checks proved difficult to tick off. But, our underwriter collected additional paperwork from the borrower to verify their details.
There was also an issue with the legal side of the investment. To overcome this, we worked with a trusted solicitor to ensure the deal could progress without falling on the wrong side of any rules. With these issues addressed, and the case’s many strengths, we provided the funding needed to help the client wrap up their refurbishment plans, and move onto long-term finance.
Helping property investors get ahead with their plans
We’re happy to work with brokers and direct borrowers alike, regardless of whatever challenges may emerge. This may prove especially important for property investors over the coming months, as many plan to get a head start on EPC improvements, even with a potential delay on the way.
Fortunately, we have permitted & light development bridging loans ready to go that can help with EPC upgrades, loft conversions, polishing up auction properties and more.
Regardless of how you plan to use our funding, you will receive a service that’s flexible, and speedy. Your investment plan, whether it includes refurbishments or purchases, will be underwritten from day 1. You, and your clients, will never be unsure of where you stand.