Roma Finance look beyond the façade to see the potential in renovating


The borrower was an experienced builder in Chester and he and his business partner bought a derelict semi-commercial terraced property at auction for £50,000 comprising a ground floor shop with accommodation above.

  • Borrower couldn’t raise funds from other lenders
  • Renovation finance needed with huge potential
  • £50k lent in stage payments
  • Bought for £50k at auction, now valued at £260k
    pre-completion---chester---external

While another lender procrastinated, Roma Finance went to visit the property and met the borrowers to discuss their plans. Although not in a good state of repair, the locality provided good housing and shopping amenities. It seemed obvious that having been empty for 25 years, the local authority would grant consent for a change of use – indeed the borrowers already had an application in for the renovation to provide a shop and two flats or four flats.

As the project was discussed it became apparent the borrowers were experienced property professionals, pointing out three other properties they had fully refurbished on the same road, demonstrating they were extremely familiar with the local housing and rental market.

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