The full refurbishment and modernisation of a detached residential property into a high end, 6 bedroomed home located in Kent.
With the security already owned by our client and the valuation confirming a GDV figure of £1.3m, Seneca were able to fund a Gross Loan Facility of £976,000 which enabled us to fund the costs of works which were to be undertaken via a Fixed Price Contract.
With the support of the Broker, Surveyors and Solicitors involved on this case, the deal has successfully proceeded to completion. A day 1 net release of £187,000 was provided to the Client for certified works with a further £275,000 released on the first post completion drawdown. Seneca look forward to seeing the end result which is set to be a high quality, contemporary family home.