Broker Laurence Mills arranged a £315,000 bridging loan on a 12-month term to fund a residential-to-HMO conversion in Greater Manchester.
Turning a standard residential property into a House in Multiple Occupation (HMO) can significantly increase both rental yield and long-term value. One of our clients saw the potential to achieve exactly that by converting a property into a 6-bedroom HMO.
Because the property was located in a non-Article 4 area, the conversion could proceed under permitted development rights — removing the need for a full planning application and allowing work to begin quickly.
Broker Laurence Mills arranged a £315,000 bridging facility on a 12-month term, giving the client both the speed and flexibility required. The structure allowed for property acquisition, refurbishment works, and tenant placement before refinancing onto a longer-term product.
This approach ensured the client could move forward with confidence, secure the asset, and prepare for sustainable rental income.
Key Highlights
- £315,000 bridging loan arranged on a 12-month term.
- Funding supported purchase and conversion of a residential property into a 6-bed HMO.
- Non-Article 4 area, enabling conversion under permitted development rights.
- Structure allowed time for refurbishment, tenant placement, and refinance.
- Delivered by Broker Laurence Mills.