Area: Castle Donington, Leicestershire
Loan amount: £1.3m
Our client who specialised in small developments had just finished building a small site of 9 homes in the small market town of Castle Donington in Leicestershire. Once the site was completed they needed time to sell the properties at the guide price they had originally envisaged, and also needed to release funds to move on to a new scheme in neighbouring Derbyshire.
In the hope of repaying their original, and expensive, development funding and raising an additional £320k against the completed site they contacted One 77’s Specialist Lending Department.
Using our contacts with specialist lenders we were able to take security over the freehold of the entire development to raise more cost effective finance and give the client the cash they required to get their next project moving.
Do you require bridging, auction, commercial or development exit finance? For our full range of specialist finance options and products call our Specialist Lending team on 01249 474956.
One 77 Mortgages are one of the UK’s foremost providers of bridging loans and specialist finance. We are experts in finding the best deals for unregulated bridging solutions for experienced and first time developers. We offer a fee free service and are an award winning company with whole of market access.