Secured Loan Provided for Home Improvement Project
Case Study Category: Secured Loans
Here at UK Property Finance, we are approached on a daily basis by all manner of borrowers in search of fast and reliable funding for a diverse range of projects.
In May 2016, we were approached by a private homeowner who was in search of a secured loan at the value of £200,000 in order to finance significant improvements to his large country home in the outskirts of West Sussex. The client was a self-employed businessman who was looking for the best deal on a secured loan which would be backed up by means of proof of income via bank statements and a certificate provided by his accountant.
One of the main problems that our client was facing was the fact that his country home also had a number of stables and as such was listed as an equestrian centre. However – the stables had remained dormant for a number of years and the lenders and surveyors that our client had approached before we intervened would not consider his home as a strictly residential property.
It was clear to us from the start that the intended use of our clients property was exclusively residential in nature and we were able to provide a secured loan based on this borrowing criteria in a process that took no longer than fourteen days to complete – from start to finish.