Our client required funding to purchase a barn in York to be converted into a two bed single storey dwelling. The agreed purchase price was £175,000. This was the first project for the new company and the client had no prior development experience. However, it was a family business, and they were keen to build up their own track record in development. We successfully arranged a 12 month loan for £185,000 on a GDV at £400k and an LTV of 69%.