case studies

HMO conversion, SW18

client’s circumstances

Client required a £186,000 to convert a semi-commercial property into a house in multiple occupation (HMO) and had a specified completion date. The client wanted to take advantage of the demand for HMO property and time was running out on its completion. He needed the funds to pay the developers and expedite the work on the property.

MT Finance solution

We were able to provide him with a second charge loan of £186,000 at 59% LTV, based on an open market value of £1.5 million. Interest was retained at 0.89% per month, over a 12-month term without exit fees or ERCs. We didn’t require any personal guarantees.

the benefits

With our short-term loan the client was able to access the funds needed for the conversion. The client received the funds from us within the specified time. More importantly, the client was able to pay his contractors and work on the property continued. The client plans to sell the property within 90 days of work completion at a higher valuation.




quick enquiry