Have your clients moved out to do a major refurbishment?
Has the property been gutted or the building work stalled?

We call it “Cash 22”

Can’t complete the work without raising cash
Can’t raise the cash due to the property condition

Do you struggle to place cases where clients own a property, they don’t reside there, and they are in the process of a major refurbishment.

Rather than expensive unsecured or bridging finance, we regularly arrange Prime term loans in this scenario at rates below 4%.

  • One client had just purchased and gutted the property so was yet to move in. He was considering a bridging loan.
    Our loan rate was less than half the bridging rate with no requirement to refinance so he saved a load of fees and hassle too.
  • Another borrower had lived at the property for years and moved in to rented accommodation whilst the house was extended and gutted. There was no bathroom or kitchen.
    Despite the property not being mortgageable and the extension not being weather tight we arranged a Prime loan because the lender was happy with the client’s stability and profile.
  • There are even options for Buy to Let’s.

Don’t assume your clients need an expensive bridging loan.

Let Promise try a second charge term loan instead.


Steve Walker