Case Study - Two Flats above funeral directors

A lot of property deals look straightforward on paper.
But once you get into the detail, that’s usually where things either work or don’t.
This was one of those.

The client had already bought a mixed-use building on a High Street in a riverside town using a bridging loan. The plan was to refurbish the flats, increase the value, and refinance before the loan became more expensive.

The Background

The property consisted of:

• Two flats upstairs
• A ground floor commercial unit, operating as a funeral directors

The purchase had already been completed using short-term finance, so there was a limited window to get the refinance done.

At that stage, it wasn’t just about the asset. It was about whether it could be placed with the right lender in time.

The Challenge

This is where it became more complex.

It wasn’t just one issue, but a combination of factors:

• Grade 2 listed building
• Commercial unit with an onsite morgue
• Located next to a pub and a betting shop
• Tight timeframe to exit the bridging loan

Individually, some lenders might consider one or two of these points. Taken together, most were not comfortable.

So the real challenge wasn’t the deal itself. It was getting it placed in time.

The Strategy

The focus was on getting the deal in front of the right lender from the outset.

That meant:

• Identifying a lender comfortable with the property and location
• Making sure the deal was presented clearly
• Working alongside the refurbishment to support the valuation
• Keeping the process moving to stay within the timeline

Once those pieces were in place, the refinance became much more straightforward.

The Outcome

The refinance was completed within 6 weeks.

• The short-term loan was repaid before costs increased
• The flats were refinanced at higher values
• The commercial unit was kept separate

This allowed the client to move forward without the pressure of the bridging loan.

The Bigger Lesson for Investors

This is something we see quite often.

A deal can look strong, but if it doesn’t fit lender criteria, it becomes difficult to place.

That’s usually where things fall down. Not the deal itself, but how it’s structured and who it’s put in front of.

How Ramsay & White Can Help

At Ramsay & White, the focus is on placing deals properly, not just getting them approved.

That means understanding the detail, then aligning the deal with the right lender so it works in practice.

Need Support Structuring a Deal?

If you’re working on a deal and want to sense-check how it would land with lenders, feel free to get in touch.

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