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100% Auction Purchase of HMO in Manchester using Auction Finance

Deal Structure

100% Loan to Value

100% of Purchase Price

Loan Amount £267,000

2% Arrangement Fee

0.75% per month

No Exit Fees

12 Month Term

Deal Summary

Client was looking to buy a HMO property in Manchester which was divided into 8 units. The property itself had the potential to add 2 more bedrooms, making the return fantastic.

Our client was cash poor and asset rich – so they needed a loan of 100% of the purchase price in this instance.

We structured a deal where the lender took a charge on one of their current BTL properties which was unencumbered. This then gave the borrower the freedom to bid up to £400,000 for the property, without a valuation report required on the auction property they were buying!

The Client managed to secure the property at auction using 100% Auction Finance and this then followed through to a quick completion.

James Waddicker

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James Waddicker

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Positive Commercial Finance is a trading name of Business Financial Solutions Limited. Registered in England & Wales 06451075. Registered office address Warth Business Centre, Warth Road, Bury BL9 9TB. Authorised and regulated by the Financial Conduct Authority (716012). Full members of the NACBF and FIBA. ICO registration reference Z1196910.