Mrs. Z. couldn't find work; at 62, she felt all washed up. But she had a dream of owning a small farm with outbuildings and running an AirBnB.
With Shepherds Huts, a Lodge, and 4 bedrooms, she could make a good living. The problem was, how could she move from her 2-bed flat worth £500,000 and £185,000 in mortgages to her ideal lifestyle?
With no income and no help from her current mortgage lender, she couldn't have done it without a bridging loan and development finance from Succession Ltd.
I'm bored with my life. Can you help me? I get this question a lot, and the answer is yes. As long as you are willing to do something, I can help.
Ms. Y. 43 is a self-employed consultant with sporadic income at the beck and call of her clients. Has a house with £225,000 in equity, we used £75,000 to buy a houseboat that was ready to rent. Potential income is £35k to £50kpa + I have unleashed a beast as she now wishes to buy a second. The plan is now to sell the main home in 12 months, buy a third houseboat, and live the dream.
Mrs. X. got planning on the driveways between her very nice Art Deco semi and her neighbour. Using development finance and a bridging loan, she built a 2-bed modern bungalow with a current value of £650,000. Now that she is moving into it, she will be converting her semi into 5 flats. She will sell 3 and pay off all her loans, and by keeping two, she increases her income by over £3,500 per month.
Her current income is less than £10,000 per year. She will be retired in another 9 months on 4 times her salary.
Mrs. W. just want to buy the house next door it was an eyesore and devalued the area. She bought it using a bridging loan of £150,000 to refurbish it to a high standard and now has the choice of selling it to make £80,000 to £100,000 profit or re-mortgaging and letting it out at about £22,000 per year. She's now looking to take out a development finance loan for a hotel conversion into apartments.
Mr. & Mrs. V. hit financial difficulties when Mr. V lost his job. With £565,000 in mortgages on a £850,000 home, life had become a desperate struggle. Mrs. V knew the semi next door had been recently converted into 3 flats, and they were on the market for £550,000 each.
After spending £330,000 on the conversion using a development finance loan,. They will, after selling, walk away with £600,000 in profit. If Mr. V were to get another job, he could buy a similar house with a mortgage of £250,000. As Mr. V hates his job, he has decided to rent and become a property developer instead.
Mr. T. wanted to buy a business and downsize from a very nice £1,150,000 property, but his £685,000 mortgages were restricting him as he had a poor credit rating. We moved him to a nice £500,000 property, and he kept £110,000 to buy the business. When he sold the previous home, he was left with £170,000 to refinance. Due to his age, he switched to an equity release mortgage, which meant he did not have to make any further payments to his lender.
Mr. R. got his bridging loan in place before he went to auction. Sure, their were a few hoops to jump through, but the learning curve has made him an experienced developer. Buying and flipping after a light refurb is now making Mr. R. over £100k per year.
Finding development plots is easy if they are handed to you. On other occasions, you need to do a joint venture with the landowner, then use bridging loans or development finance to complete your project.
To understand how you can set up deals to enable you to build or develop what you want, just contact me below to discuss the matter personally.
Call to discuss your options.
If your new to using bridging loans and/or development finance, then why not have a no-obligation friendly chat with me?
I can help you build your dream projects.
You could be building your dream home.
Or start your property empire in a few months.
You just need to have me on your team and a dream to aim for.
This facility depends on your having a current business for at least 3 years.
It can be used along with other finances. For any purpose, just ask!
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