Key Details:
- Property Location: The South East of England
- Purchase Price: c £4.5m
- Loan Amount: £2.5m
Enness secured a bridging loan for a client purchasing a historic, unused house in The South East of England. The client plans to convert the substantial-sized property into several luxury homes. While the current planning consent for the property is for commercial use, the client intends to apply for residential conversion consent. This case highlights how bridging finance can help clients seize unique property opportunities while awaiting planning approval. The client sought a short-term bridging loan to finance the purchase of the sizeable property until planning consent for residential development was secured. The loan enabled the acquisition and provided flexibility during the planning process, giving the client confidence in the adaptability of the financial solution.
Enness provided a bridging loan solution and secured attractive terms to meet the client's requirements. The £2.5 million loan was arranged with a two-year term, functioning as a standalone facility.
As demonstrated in this case, Bridging loans are a lifeline for property investors who need to act quickly on opportunities, significantly when traditional financing is delayed by planning permissions. In this case, the client required immediate funds to secure the property in question before obtaining approval for the conversion into luxury homes. The loan was structured to ensure quick implementation, providing the necessary liquidity to proceed with the purchase and planning process without delay.
The c £4.5 million purchase was successfully financed with the £2.5 million bridge loan, which enabled the client to move forward with the planning applications as were necessary for the project to be successful. The property can potentially deliver significant returns with a projected land value of in excess of £7 million post-planning.
At Enness, we specialise in arranging bespoke finance solutions for high-value property purchases. Whether you're looking to secure a bridging loan for property acquisition or refinance an existing asset, we offer tailored financing options to meet unique requirements. Our streamlined processes make funds available quickly, enabling clients to capitalise on property opportunities in competitive markets.
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