Specialist property lender Avamore Capital has completed a £935,500 refurbishment and conversion facility for a repeat borrower, supporting the upgrade and reconfiguration of a residential asset.
The lender structured the loan to fund refurbishment works while allowing the borrower to maximise leverage from the outset. This approach enabled the client to allocate capital efficiently across the wider project.
Adam Butler, director of sales and marketing at Avamore Capital (pictured), worked on the transaction alongside Saif Ali Khichi, underwriter. The deal highlights how the lender combines practical deal structuring with a structured underwriting process to maintain momentum on projects with tight timelines.
A central challenge involved the borrower’s plan to carry out a loft conversion. Planning approval for that element remained pending at the time of completion.
Rather than delay the loan until the planning decision arrived, Avamore structured the facility so the borrower could proceed with the main refurbishment and conversion works immediately. This allowed the project to move forward without interrupting contractor schedules or delaying the programme.
The borrower’s existing relationship with the lender also helped streamline the process. Previous transactions provided a clear view of the borrower’s experience and delivery track record, which supported faster credit assessment and decision-making.
“This deal reflects exactly what we aim to deliver momentum, flexibility and confidence,” said Butler. “By structuring the facility creatively, we ensured our client could move forward immediately rather than waiting on planning, which can often stall progress and increase costs. Having worked with this borrower before, we understood their experience and objectives, which allowed us to move decisively and structure a solution that truly supported their strategy.”
Khichi explained how the underwriting approach addressed the planning uncertainty while maintaining risk controls.
“From an underwriting perspective, the strength of the client’s track record gave us confidence in the delivery of the scheme, and by taking a structured and controlled view on the pending loft planning, enabled us to mitigate risk while still providing meaningful leverage,” he said.
“It’s a good example of how thoughtful structuring and close collaboration between underwriting and origination can unlock opportunities without compromising on credit standards or delaying completion timelines on an acquisition.”
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