Loan amount: £730k
Our client was a first time developer who had located a plot of land without planning in Harrogate, North Yorkshire for four properties he was planning to build.
Following a fact find of the personal circumstances and business plan surrounding the case, through our extensive network of specialist lenders 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, thereby allowing the client a further 12 months to sell them to make his expected profit. 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 specialist finance needs, call our Specialist Lending Department on 01249 474 956.