Enhance market value, TW1
Client required £917,000 as a second charge loan on her £5.2m property. The funds were to redeem an existing £700,000 2nd charge coming to the end of its term, with the remainder of funds to put towards refurbishment works on an investment property that the client planned to sell.
MT Finance solution
In just over a week, We provided a £917,000 second charge short-term loan, based on an open market value of 58% LTV, with no exit fees or early repayment charges.
The client was able to redeem the 2nd charge loan, and once refurbishment works were complete, she will be able to put the investment property on the market at an increased market value, making a significant profit.