Case Study –Renovation Purchase | Without Functioning Utilities

Day-One Value	£1,600,000
Day-One Loan Amount	£1,040,000
Loan for Works	£340,000
Location	Hampstead
Day-One LTV	65%
Achieved Rate	3.99%

The Client

Our client had found a new property requiring significant renovation works in order to be habitable. In its current state, the property had no running water or functioning utilities. Our client’s desire was to undertake a renovation of the entire property to restore this house into their perfect family home. To accomplish this, our client instructed an architect and set out the plans for the project.

The Solution

Without running water and functioning utilities, the property was deemed uninhabitable. On this basis, we were able to source a lender willing to lend on the property’s future value, providing the client with the additional funds required to complete the renovation works. The lender was able to offer 100% of the funds required to complete the works, which were released on a pre-agreed basis, in line with the projected timeline, to support cash flow whilst also allowing the clients to save on interest, by not drawing down on the entire loan.

The Henry Dannell Difference

With our extensive market knowledge and relationships with lenders, we were able to source our client the most suitable lender that was able to offer a cost-efficient loan structure that aligned with the timeline of the project.