Recent Deal from Key-£12M Care Home Development!

carehome development

Are yourself or your clients looking for assistance in purchasing and developing a care home? Key are very excited to showcase the below recent deal.

  • Our client wanted to borrow a £1.3m Bridging Loan in order to support the deposit for a £12m project to purchase and develop 10 care homes within the North West.
  • The client has several buy to let properties and although they have no previous care home experience, they have had experience in development projects previously.
So how did Key Assist? USP’S of the deal;
  • After speaking with several lenders Key were able to assist (we provided the top up stake only) this was used as the deposit to successfully fund the project.
  • Key were able to provide very competitive rates and terms– Interest rate at 1.40% (difficult to obtain as care homes are a restricted sector for the majority of lenders)
  • Secured against Land only (no building on site)
  • Loan term-9 months
  • LTV-at 58%.
The above deal is a prime example of the premium quality and comprehensive financial services that our team here at Key offer. We are whole of market independent advisors, who have strong relationships with specialist lenders, ensuring that we meet our clients needs whatever their requirements. If you would like to speak to the Key team with regards to the above then please do not hesitate to contact us today.