New property investors approached Seneca through their broker with a residential purchase and refurbishment project in Rochdale. The clients had a clear vision to unlock the property’s potential value through necessary internal upgrades, capitalising on its desirable location and scenic views.
Recognising the clients’ ambition and the compelling low-risk nature of the proposal, Seneca quickly structured a finance package that supported their entire investment journey. Our ability to see beyond the current condition and focus on the potential end value positioned us as the ideal lending partner.
The funding structure was designed for maximum efficiency and flexibility. With First Charge security over the asset, Seneca efficiently released funds covering 75% of the purchase price. Crucially, an additional £25,000 facility was secured and ringfenced, allowing the borrower to drawdown funds precisely when needed to complete the planned refurbishment works.
This approach provided certainty of funding for the acquisition while ensuring the capital was available immediately to execute the value-add strategy. We look forward to seeing the completed project and view this successful transaction as the foundation for many future ventures with our new client.