£1.3M Bridging Loan For Property Development In Chelmsford
Access to quickly available finance at rates that allow for a good return on investment are essential to every builder-developer.
The Scenario
Our company-owner client had identified a property in Chelmsford available for development, which was on the market for £800K.
He intended to do the building works himself, and approached us with an impressive portfolio of assets; he also had £500K in cash which he did not want to commit to this next project.
He was looking for a development bridging loan of £1.3M to purchase and develop the project.
The Solution
We approached out trusted lenders, were able to secure an advantageous 65% loan-to-value (LTV) rate on his development finance plan.
Our client managed to purchase the property for £750K. The remaining £550K funded the building works and marketing, and the completed development sold for £2M: a very healthy return
Alex Chambers
Senior Finance Broker
Bristol
0117 403 4324
Have a similar situation? I'm a specialist in residential and investment property finance for UK and international clients. I look forward to hearing from you.
Luther Yeates
Finance Broker
Bristol
0117 244 5561
Have a similar situation? I am a specialist in residential and investment property finance for UK and international clients. I look forward to hearing from you.
James Palmer
Senior Associate
London
0203 900 4322
Have a similar situation? I specialize in development and commercial finance and can provide creative solutions for your property funding requirements.
Sam ONeill
Senior Finance Broker
Bristol
0117 959 5094
Have a similar situation? I specialize in bridging finance and can provide creative solutions for your property funding requirements.
Robert Gibb
Senior Finance Broker
Bristol
0117 959 5094
Require mortgage or short term finance for residential or buy to let property (including HMOs and limited companies)? I have extensive experience on providing property finance solutions for UK and International clients.
Adam Arnott
Senior Associate
Bristol
0117 205 0214
Are you in a similar situation? I have extensive experience in advising clients on providing creative property finance solutions. I look forward to hearing from you.