Commercial banks in the U.K. rarely provide loans for redevelopment projects. With this in mind, our client reached out to Rikvin Capital for a loan.
- Our client needed funds to purchase the mail delivery office at a good price
- Rikvin Capital performed the necessary due diligence and underwriting and found that the property was in a prime location.
- We were able to provide the loan at 60% LTV for a period of 6 months with a first charge on the property.
- This enabled the borrower to purchase the property and apply for planning.
- The borrower plans to refinance the property after receiving planning permission.
Read about when Rikvin Capital refinanced a client’s residential property loan at a lower interest rate here.
Are you looking to finance the purchase of a redevelopment project?
Find out more about property refinance from our specialists.