Amount Funded
Location
Abingdon
Property Type
Commercial
The broker approached Simple Bridging UK for support in purchasing a commercial property that had existing planning permission to convert into three residential properties. The client had agreed to the purchase 2 years earlier with an agreement that the purchase would complete on consent of full planning. This gave Simple Bridging UK confidence that the client had increased the value of the property and were therefore able to secure funds on the current Open Market Value.
| Property Value | 320,000 | Location | Abingdon | |
| Gross Loan | £324,709 | Interest Type | Retained | |
| Term | 12 Months | Exit | Sale | |
| Property Value | £435,000 | GDV | £760,000 |