| Property | Three-bedroom terraced house needing full refurbishment |
|---|---|
| Location | Southend-on-Sea, Essex |
| Client | Landlord buying at auction to refurbish and let |
| Product | Bridging loans |
The challenge
The auction contract required completion within 28 days. The house had no working kitchen or bathroom, so a standard buy-to-let mortgage was not possible.
What we did
We arranged a bridging loan with a lender that works to auction timescales. We read the legal pack before the auction to catch any issues early. The valuation was booked within days of the hammer falling. The exit plan, a buy-to-let refinance once the works were done, was agreed upfront.
The outcome
The purchase completed well within the 28-day deadline, and the client later refinanced onto a buy-to-let mortgage.
Bridging loansFast, short-term property finance for auctions, chain breaks, refurbishments and time-critical purchases.
Learn moreImportant: Bridging and development finance are short-term, secured borrowing and can be expensive. You need a clear, realistic exit plan. Loans secured on a home you live in may be FCA-regulated; most others are not. Your property may be repossessed if you do not keep up repayments.