For example, we had a client come to us who had found a huge site which was home to a large manor house and a number of out-houses. The intention was to renovate the manor house and bring all the out-houses to a high standard for rental.
The client wanted to go straight on to a term loan, however, the property had an EPC rating of G, and so she couldn’t get the funding she needed. The client’s broker approached a number of lenders, but time was of the essence as the client had agreed to complete the purchase of the site within two weeks.
The client owned a large, successful estate agency, had a wealth of experience with property and a sizeable portfolio and was confident in the property’s potential. So Hope Capital were happy to carry out a valuation and offer a bridging loan which allowed her to complete the deal within 48 hours.