£1.1m Development Finance Facility

We secured a Development Finance facility of £1.1m (58% GDV),  over 15 months. Our client purchased a 15 bed property in West Yorkshire with the intention of refurbishing the flats, retain the freehold, create leaseholds and sell. The refurb project is being undertaken by client’s existing business which is a specialist refurbishment contractor . Due to his experience we were able to secure very favourable rates with a specialist lender who funded 60% of the purchase price and will go on to fund 100% of the refurbishment costs.  Our recommended lender was able to move quickly to provide an offer in line with the client’s stated timescales.