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How we helped

HMO’s & Buy to Let

Amount raised: £270,000

Purpose of finance: Purchase of Redevelopment Property

Type of finance: Bridging Finance @ 75% loan to value


Our client was struggling to find a lender to fund a commercial conversion to a HMO, Central Finance found the solution.

The client had a number of HMO’s and had good track record. The opportunity came to purchase an old window showroom with residential accommodation upstairs and a separate workshop annexe with the potential to create 4 more dwelling units. Total number of units to be created was 10. The clients had formed a newly created limited company, with 4 shareholders: 2 with experience, 2 without and one with an historic CCJ.

The Challenge:

Change of Use, Certificate of Lawful Planning & HMO Licence were all to be needed for long term mortgage lending, amongst significant remodelling and renovation works. The historic CCJ whilst satisfied was also a challenge with some lenders. The long term plan was for the property to be let to vulnerable adults/assisted living, which again has its challenges for most lenders.

The Solution:

Short term bridge facility with Lender A, for a 6 month term whilst all works were complete and necessary compliance was put in place. Exit finance was pre-agreed prior to drawdown of the loan to ensure the clients had a clear strategy for refinance and long term funding.


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