Covering Residential Mortgages, BTL, Secured Loans and Bridging Finance; all of the Precise Mortgage products are available via our specialist packaged team and our direct to lender mortgage club.
Second charge security funds light refurb
A borrower required a regulated light refurbishment bridging loan to purchase a new residential property. To make the deal viable and meet affordability and security requirements, the borrower offered an additional property as second charge security.
The proposed exit strategy was a combination of the sale of the second charge property and a residential refinance of the newly purchased home once the refurbishment was completed.
Want to know how Precise got creative to complete this deal?