May 30th, 2016.
Deal of the Month: Releasing Equity to Fund an Additional Development
Property development and portfolio management can become difficult when you live in a different country. One of our clients came to us after realising just that.
Our client was living abroad and had to raise money from an existing buy-to-let property to ensure that another property he was trying to sell didn’t fall foul of building regulations. It was hoped that this freed up cash, would be enough to fix the issues ready for sale.
Despite the fact that he had a mildly adverse credit rating and had to complete on a tight schedule, so the contractors didn’t walk out before completing the job, the deal came to a successful conclusion.
Since, he has now sold the property and made a decent profit, as well as paying off the loan.