Hope Capital Property Finance’s Flip+ Takes Welsh HMO Conversion from Purchase to Refurbishment

09 September 2026

Hope Capital Property Finance has demonstrated the value of its Flip+ proposition, supporting a borrower from the initial purchase bridge through to a refurbishment facility with a longer term, while avoiding the need to find and pay a second lender. The proposition also removed the need to pay certain fees again and, through dual legal representation, helped speed up the process, giving the borrower a simpler, faster route from acquisition to refurbishment.

Lyndsay Kent of TBK Mortgage Studio introduced the case on behalf of a developer acquiring a three-bed, mid-terraced residential property in Wales for £85k, with plans to convert it into a four-bed HMO. With HMO conversions in Wales falling outside permitted development rights, the borrower needed to secure the property while retaining a clear route into refurbishment funding as the planning process progressed.

Hope Capital Property Finance initially provided a purchase only bridge, enabling the borrower to secure the property ahead of the planned conversion. With no minimum interest period under Flip+, just three months later the borrower was able to refinance onto a 75% LTV refurbishment facility at 0.89%, without having to secure an exit with another lender. A further £52K was used to complete the refurbishment works, with tranches released the same day our Loan Support Specialist on this case, Sophie O’Neill, received the monitoring agents report. An 18-month term was available, though the borrower only required 12 months to complete the works.

A desktop valuation was completed to support the purchase facility then a full valuation was required once planning was in place for the refurbishment works to commence, while dual legal representation, used on both the purchase and refurbishment facilities and full title insurance helped streamline the process further. Rather than paying a full new facility fee, the borrower only paid an uplift fee on the additional refurbishment funding required, alongside a single admin fee covering legals

Continuity was maintained throughout the refinance, with Underwriter Stacey Bradwell handling both the initial acquisition and subsequent refurbishment facilities. Having already underwritten the original transaction, Stacey had an existing understanding of the case, helping to make the transition between facilities more efficient. National Account Manager Sam Lea and Relationship Manager Chris Grierson also worked closely with Lyndsay throughout, structuring the funding around the valuation of the property.

Lyndsay Kent, of TBK Mortgage Studio, commented:

"From the outset, I wanted to be sure I could make this deal work for my borrower, which meant sourcing a lender that could keep costs down throughout. Despite the complexity, Hope Capital Property Finance stayed relentless in finding a solution throughout and made what could have been a very difficult case easy for my borrower."

Sam Lea, National Account Manager at Hope Capital Property Finance, said:

“This was a great example of a case where the funding needed to work around the different stages of the borrower’s project. They needed to secure the property first, while also having a clear route into refurbishment funding when they were ready to progress.

Flip+ gave us the flexibility to support both stages, while keeping the borrower with Hope Capital Property Finance throughout. By working closely with Lyndsay and our underwriting team, we were able to structure a solution that reduced the cost and complexity of moving from the initial purchase bridge onto the refurbishment facility.”

Stacey Bradwell, Underwriter at Hope Capital Property Finance added:

“Having underwritten the initial purchase facility, I already had a clear understanding of the case when the borrower was ready to refinance onto the refurbishment facility. That continuity helped make the transition between the two facilities more efficient and is a great example of how closely our sales and underwriting teams work together.”

This deal also reflects a growing relationship with TBK Mortgage Studio, with whom Hope Capital Property Finance has completed over £1.1m in lending over the past year, with a further £300k already in the pipeline.

To find out more about Hope Capital Property Finance and its extensive product range call 0151 523 5998 or email: newdeals@hope-capital.co.uk