Are yourself or your clients looking for finance for a property conversion? Key would like to showcase the below recent deal.
- Client required funding to purchase a barn in York to be successfully converted into a two bed single storey dwelling.
- The agreed purchase price was £175,000 with £55,000 cool deposit.
- The client had no prior development experience. However the client’s mother had experience of barn conversions and agreed to be actively involved in the development project.
- The client’s Mother was very keen for her daughter and partner to build up their own track record in development.
- The client was unable to secure finance elsewhere and Key were recommended to assist.
- Key were able to secure the deal and offer very competitive rates and terms for the client.
- The client borrowed a total amount of £185,000-(including refurbishment costs) Fees were also added to the facility and interest rolled up.
- Proposed GDV of £400,000.
- Lending term of 12 months.
The above deal is a prime example of our team always delivering premium quality and comprehensive services. Here at Key we will always seek to find the best possible opportunities and deals for all our clients so they can successfully achieve their best potential.