Insights

Key Takeaways • A refurbishment bridging loan is short term finance that funds the purchase of a property and the works to improve it. • Light refurbishment is mainly cosmetic, while heavy refurbishment involves structural work, extensions or a change of layout. • Lenders want a clear scope of works, a realistic timetable and a firm exit strategy. • Funds for works are often released in stages after inspection, so plan your cash flow carefully. •

Key Takeaways • An HMO mortgage is a specialist buy to let mortgage for a property let to three or more unrelated tenants who share facilities. • Lenders look closely at your experience, the licence, the property layout and the rental plan. • Redbridge Council runs a borough wide additional HMO licensing scheme, so check your licence position before you buy. • Bridging finance can fund the purchase and conversion, with an HMO mortgage as the long term

Key Takeaways • Auction finance is usually a bridging loan that lets you pay the deposit and complete within the auction deadline, often 28 days. • Arrange finance before you bid, because a standard mortgage rarely meets auction timetables or covers unmortgageable lots. • Read the legal pack and special conditions first, and set a firm maximum bid. • Plan a clear exit, either sale or refinance, plus a back up option. • BEMS in Ilford arranges auc