Loan amount: £600k
Our client was a first time developer who had located a plot of land without planning in Vauxhall in Liverpool. We were able to facilitate the purchase of the land initially, then when planning was granted fund all build costs of the project to 100%. When the four properties were water tight we were then able to reduce the rate of interest on the loan and allow the client a further 12 months to sell them off. Despite the fact our client was an inexperienced developer we were able to source funding up to 70% LTGDV.
To discuss your individual situation and find out how we can help with your bridging finance needs, call our Specialist Lending Department on 0800 098 7177.