- Loan amount: £345,000
- Purchase price: £225,000
- GDV: £750,000
- Term: 9 months
Roma Finance was approached by one of our key intermediary partners, Synergy Commercial Finance, to support a borrower on the refurbishment of a residential property in London.
The borrower, an experienced landlord with an established portfolio of buy-to-let properties, required the funds to support the refurbishment and extension of a dated 3-bed mid-terrace property in need of modernisation.
The property is set to undergo a full internal refurbishment, including a complete rewire, installation of a new kitchen and bathrooms, and upgraded finishes throughout. In addition, the borrower plans to construct a single-storey rear extension once planning approval is secured.
With an estimated cost of works of £200,000, the transformation will elevate the property from its current condition to a high-quality living space. The combination of internal upgrades, external improvements, and additional space is expected to significantly enhance the value and potential of the property.
Their intended exit is to internally refinance the property onto Roma’s buy-to-let product, making this a great addition to their existing portfolio.
Chris Adlam, Broker at Synergy Commercial Finance, commented “It was a pleasure to work with Roma and Dan on this refurbishment project. The case was well managed from application to completion, and the clear communication made the process smooth and efficient. We look forward to seeing the outcome of this project after the works have been carried out and are pleased to see the borrower set up for success.”
Daniel Hill, Senior Key Accounts Manager at Roma Finance also commented “It’s great to support a project with such clear potential. The borrower has a strong track record, and this refurbishment will bring meaningful improvements to the property. I am thrilled to play a part in helping them grow their portfolio!”
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