Light Refurbishment of Ex-Council Flat in East London
£310,000 · 7 months · 0.86% pm. A property investor purchased an ex-council flat in East London in need of modernisation - new kitchen, bathroom, flooring, and decoration.
The Client
Property investor
The Challenge
A property investor purchased an ex-council flat in East London in need of modernisation - new kitchen, bathroom, flooring, and decoration. Standard buy-to-let lenders required the property to be lettable before advancing funds, creating a catch-22.
Our Solution
Doulton's light refurbishment bridge provided £310,000, covering the purchase and releasing a further tranche for works upon evidence of contractor invoices. No planning consent was required.
The Outcome
Flat fully refurbished within four months. Re-let immediately to a young professional couple. Buy-to-let mortgage redeemed the bridge at month six at a valuation 18% above the purchase price. Key highlights: Purchase and works funded in single facility; Tranche release on invoice evidence - simple process; Valuation uplift of 18% achieved post-refurbishment.
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