Assisting an experienced developer with a complex HMO case
An experienced developer required a refinance and refurbishment loan in order to complete works on a mixed use property in Derby. The property was a converted Mill of over 160 years old.
Planning permission was in place for commercial on the ground floor, and a 6 bed HMO on the upper floor, with proposed planning for 3 apartments on the ground floor.
We worked with the developer to release an initial sum to enable the refinance and works to continue, with a second tranche of funds released once planning for the 3 apartments was in place to allow the refurb to complete.