refurbish a property? I was recently able to secure this for a client buying a block of flats. My client, who was in his mid-thirties, had made a successful career out of property. He had an excellent track record of acquiring property, refurbishing and refinancing in order to release funds to broaden his portfolio. He now owned a portfolio of seven student lets, which were all let on a Houses in Multiple Occupation (HMO) basis. He was now looking to expand slightly by purchasing a residential block containing 12 studio flats, which would be ideal for postgraduate students, being located in a northern University city. However, although he had identified a block of property, these were not currently in good decorative repair and would need substantial refurbishment before he could let them to students at the higher end of the market. He therefore needed a development finance facility which would allow him to both purchase the block of flats, and also refurbish and renovate them quite extensively. Overall, he required 80% loan to cost to complete the development, which is quite a high percentage. The location of the development also posed a slight sticking point, as many development lenders are primarily based in London and the surrounding counties.