My client found a property with a current value of £89,000 and negotiated a purchase price of £68,000.

We were able to arrange bridging finance for 90% of the purchase price at a rate of 1.15% per month, which meant that the client only needed to put up the deposit of £6,800.

After paying costs of £1,000 and spending £8,000 on refurbishment, the property was sold for £119,500 – making a net profit of £37,500.

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