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Client managed to secure purchase of a BTL property for £350K against market valuation of £500K.
An extended exchange period was also built into the transaction, allowing 6 week completion post-exchange plus physical access to undertake refurbishment of the property, with £50K of works further enhancing the value of the asset to £575K

Omega were able to source finance to support the transaction:

Day One Finance equated to a £360K Gross Facility

• The gross facility represented 90% of purchase + 90% of refurbishment Works
• Limited to 65% against the Post Refurbishment Value
• Net Facility Day one equated to 94% of the agreed purchase price

Term Finance then structured to allow refinance six months after completion

• 65% = 3.25% (all in fixed rate) refinancing the initial facility
• 75% = 3.45% (all in fixed Rate) releasing equity invested into the refurbishment for onward use
• 25 year interest only term