Albatross Lending Group is pleased to announce the completion of a £273,000 refurbishment and capital release facility secured against a three-bedroom duplex apartment in Manchester City Centre.
The loan was structured with a day-one advance to replenish the borrower’s cash reserves, with a further retention to be released on completion of works. The facility enables the borrower to continue acquiring investment properties as a cash buyer while the refurbishment progresses.
Albatross structured the facility to give the borrower maximum flexibility – releasing capital immediately to keep the acquisition pipeline moving, whilst tying the retention release to practical completion of the refurbishment works. The property was acquired at auction in an unfinished condition and is undergoing a refurbishment programme expected to complete within two to three months.
“The day-one advance paired with a retention release on practical completion is exactly the kind of structure that works for active investors. It gives the borrower the flexibility they need without compromising on the fundamentals of the deal.” Shared Lewis Casserley, Principal and Co-Founder at Albatross Lending Group.
Through its specialist divisions, Albatross Lending Group offers a comprehensive range of market-leading finance solutions across the residential, commercial and SME sectors. From bespoke short-term bridging and refurbishment facilities to longer-term-asset-backed lending. Albatross structures flexible solutions to support growth, investment, and portfolio development across England and Wales.