Welsh HMO Conversion Secures £52,000 Refurbishment Funding
UKPulse Property Desk
A mid-terraced property in Wales has been converted into a four-bedroom house in multiple occupation (HMO) with £52,000 in refurbishment funding.
- A Welsh mid-terraced property was converted from a three-bedroom dwelling to a four-bedroom HMO.
- The conversion secured £52,000 in refurbishment funding.
- The property was acquired for £85,000.
A mid-terraced property in Wales has been converted from a three-bedroom dwelling into a four-bedroom house in multiple occupation (HMO). This conversion was supported by a two-stage financing structure from a single lender.
The borrower acquired the property for £85,000 and subsequently received £52,000 in refurbishment funding. This funding was provided at a 75% loan-to-value ratio.