How can you use development finance and bridging loans

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 this meant she could make a good living the problem 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 the answer is YES as long as your willing to do something I can help.

Ms Y. 43 self employed consultant on 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 which 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.Bridging loans and development finance.

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 current value £650,000. now she is moving into it she will be converting her semi to 5 flats. She will sell 3 and pay off all her Loans and by keeping 2 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 wanted 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 refurbished it to a high standard and now has the choice of selling it to make £80,000 to £100,000 profit or re-mortgage and let 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 difficulty 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 sales walk away with £600,000 profit. If Mr V was to get another job he could buy a similar house have 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 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.