How can I finance a small development?

3 December 2012

I have just completed my first selfbuild and I am putting it on the market; I expect to clear about £100,000 profit when it is sold. I enjoyed the selfbuild experience and would like to do it again. At the moment I’m interested in a dilapidated large house in the same area, which I have been told is coming on to the market for £220,000. It would convert into four flats quite easily and produce a substantial profit on completion. My problem is finance. I don’t want to miss this opportunity but with my current level of borrowing I know it would be a waste of time talking to the usual money providers. Any ideas?

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