Experienced property developer in London required a short-term loan to refurbish a property and bring it to market standards. Rikvin Capital, the leading provider of short-term bridging loans in the UK, was able to quickly provide the required funds to allow the developer to begin the refurbishment process. With a streamlined application process and flexible repayment options, Rikvin Capital was able to provide the loan the developer needed to reach their investment goals and move forward with their project.
Problem
- An experienced developer for properties in the U.K. needed financing to refurbish a landed property for resale.
- Getting a traditional bank loan was taking too long.
Solution
- The developer approached Rikvin Capital to provide a refurbishment loan.
- After completing due diligence & underwriting, we disbursed £700k to the borrower to allow a quick refurbishment of the property.
| Location | London, United Kingdom |
| Market Value | £1,342,800 |
| Loan Amount | £ 697,000 |
| Loan-to-Value | 50% |
| Duration of Loan | 8 Months |
| Payment Schedule | Monthly Interest Payment |
| Asset Type | Portfolio of Residential Properties |
| Completion Time | 10 Days |
Developer uses a bridge loan to complete the purchase of another property