Case Study

Barn conversion - Part completed barn conversion out of funds

Key Facts:

  • Client had started the conversion process

  • Site value £552,000

  • Build Cost: £325,000

  • Loan required : £300,000

  • Gross development value: £1,200,000

Problems:

The client had started the build,  did not have a structural warranty in place and was told by another broker that funding was not possible .

 

Solution 

We first found a completive warranty quote for the client to use. Implemented the policy and negotiated with the lender to accept the policy given building control had been in place from the outset.

Rate secured of 6.04% with £1499 set up fee for the client on a barn conversion mortgage.