TAB provided a £108,750 bridging facility over 12 months at 75% LTV, secured against a three-bedroom mid-terraced property in Ramsgate.

The property, a period building arranged over three floors, was acquired at auction in poor condition and requiring refurbishment, presenting a clear opportunity for value enhancement.

The borrower required funding to complete the purchase within a tight auction deadline, alongside capital to undertake a light-to-moderate refurbishment programme.

TAB structured the facility to support both acquisition and works, enabling the borrower to complete on time and progress a defined refurbishment strategy, including internal upgrades to the kitchen, bathroom, and core systems.

The funding allows the borrower to reposition the asset as a rental investment, targeting stabilised income following completion of works and letting.

Quote from broker - "Great experience from start to finish. A lender who shows commercial thinking coupled with fast response, and service, is a real find." 

The exit strategy is refinance onto a buy-to-let mortgage once the property is refurbished and tenanted.