reFURBISHMENT

Case study 3

Product: First charge residential refurbishment bridge

Security: Grade II listed investment property and a 2nd Charge on borrower’s main residence.

Gross Loan: £650,000

LTV: 70.51%

Term: 12 months

Borrower Type: High net worth individual

Purpose: The loan was used to renovate a Grade II listed property in West Sussex ahead of sale.

Exit: Sale of the Grade II listed building

Key points:

Pivot provided the loan in two tranches as this was a heavy refurbishment.
The professional team and refurbishment contracts were approved by Pivot given the listed status of the building.