Funding to convert a 3 bed terraced property into a 7 bed house

The Project

Our clients came to us in need of funds to repay the existing Lender on their property in Portsmouth. Additionally, they also required funds to convert the 3 bed terraced property into a 7 bed house in multiple occupation in accordance with planning permission.

The Approach

Despite the significant down value of the property, we worked closely with both the Broker and Borrower to find a solution and complete quickly. Seneca were able to provide £110,000 on completion towards the refinance and 100% of the build costs.

The Outcome

The clients are now able to begin the conversion works and drawdown from their development facility.