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Purchasing a property to refurbish – Neil, London

Meet Neil

Neil had recently divorced his partner when he came to see us. He had one child and was self-employed, having launched a new business in the past year.

Why did Neil come to us?

Neil was looking to buy a new home that had space for his child when he came to stay with him.

Neil had identified a great opportunity to purchase a property that required substantial refurbishment. However, he was struggling to get a mortgage due to his self-employed status.

Additionally, the property was not deemed fit for mortgage purposes by mainstream lenders, since it had no working kitchen or bathroom.

What did we do to help?

We found a solution through a specialist lender who was able to lend against the property in its current state. They also required only one year’s worth of accounts from Neil’s new business.

The outcome

Neil secured his property for a very attractive price, which will make a great new home for him and his family.

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