£260k Development Loan – 100% build costs for two new town-houses

Our client had already purchased a piece of land using their own funds. Planning permission was in place for two 3 bed town-houses but the client had no further funds to complete the build. We sourced a facility to fund 100% of the build costs of £260k, with the first tranche of £80k released on day one. Client opted to service the interest monthly at a rate of 0.95% per month. Facility term agreed at 18 months with exit via the sale of the properties.