I have another client, Mr H J that owns an apartment in London and a home in ‘the country’.
They need £450,000 to carry out works on the existing London property to get it to a high standard, ready for sale.
The cost of a bridging loan is in excess of £40,000 and banks will not lend to the applicant as he has little provable income. The applicant is 74 and needs to sell the London property to recoup its value of over £2,000,000.
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