Bridging Finance Solutions has supported the transformation of a traditional stone built agricultural barn into a tasteful family home, in the stunning Ribble Valley, Lancashire.
The husband and wife team bought the disused barn for an undisclosed sum, with 20% of the purchase price funded by BFS, as part of a larger £300,000 development loan.
The short term loan facility was fixed over a 12 month period, however, due to unexpected issues, the loan was extended by a further six months.
The developer/homeowner explained: “This was a fairly straight forward refurbishment programme of a typical stone built barn in the Ribble Valley. We approached BFS during the infancy of the project following an introduction via a broker and worked closely in terms of planning and delivery from the outset.
“They supported us with costings and drawdowns and a clear and cohesive plan was established. From the outset, the relationship was positive and they made the process simple and straight forward from start to finish.
“In the later stages, when the facility came to an end after 12 months, they talked through the option to extend the loan and were very informative, helpful and supportive. They were a great company to deal with, and we felt valued as clients and individuals.”
The clients have now completed the build and moved into their new home, having remortgaged the property with a high street lender, which has since been valued at £550,000.