Bridging Exit for Assisted Living HMO Property
Bridging Exit Provided for HMO Assisted Living Property
This particular client had originally used another broker to secure a bridging loan, they then went on to develop the property into a 6 Bed HMO to be used for Assisted Living purposes.
Unfortunately their original broker was unable to find a suitable lender to support the clients exit. We were able to secure a competitive, long term Buy to Let exit for our client with a lender that was comfortable with the Assisted Living corporate tenant.
We were able to complete within a tight deadline, saving the client further costs associated with the bridging loan.
- Property initially purchased with Bridging Finance
- Developed into a 6 Bed HMO property
- Secured BTL exit with suitable Lender
- Client secured a competitive fixed rate
- Completed within a tight deadline
- Rate 6.09% at 5 year fixed.