Bridging Loan For Property Developer Awaiting Sale Of Most Recent Development In Hampshire

Area
Hampshire
Capital Raised
£210K

Entrepreneurial developers don’t want to wait around while other adventurers come along and buy up the next building opportunity from under their noses. And they want to keep their builders busy working – for them.

The Scenario

Our client was an experienced property developer wanting a bridging loan against a completed development in Portsmouth.

There was no debt on the land, and she had paid for the build in cash. She just didn’t want to have to wait the two to three months for a sale to be completed before being able to crack on with the next development opportunity.

The catch was: when it came to processing the land title documentation, it emerged that there were two three-bedroom semi-detached houses built on the single land title.

When two properties are constructed on a single block, it’s not possible to separate the land into two titles until they are sold. Unless you sell them to yourself and incur all the legal expenses and stamp duty.

The Solution

The lender, who was taking a charge against the land title, was expecting that our client should repay the total loan when just one of the two houses was sold.

We persuaded them that the loan should be redeemed only on the sale of both houses, leaving our client free to proceed as a cash buyer in pursuing her next development opportunity.

Mathew Phillips

Finance Broker

Bristol

0117 959 5094

Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.

Alex Chambers

Senior Finance Broker

Bristol

0117 403 4324

Are you in a similar situation? I am a specialist in residential and investment property finance for UK and international clients at Clifton Private Finance. Please don't hesitate to get in touch for a no-cost discussion of the finance you need.

Luther Yeates

Finance Broker

Bristol

0117 244 5561

Are you looking for a similar type of property finance? I have extensive experience finding residential and investment property finance for UK and international clients. Please get in touch and we can arrange to discuss your situation at any time that's convenient for you.

James Palmer

Senior Associate

London

0203 900 4322

Are you looking for similar property finance? I specialise in development and commercial finance for Clifton - I can find creative and commercially effective solutions for your project.

Sam ONeill

Senior Finance Broker

Bristol

0117 959 5094

Is your situation similar? I am a bridging finance specialist at Clifton. I can find a quick, cost-effective solution for the funding you're looking for.

Robert Gibb

Senior Finance Broker

Bristol

0117 959 5094

Are you looking for mortgage or short-term finance for residential or buy-to-let property (including HMOs)? I have extensive experience in finding property finance solutions for UK and international clients, both as individuals and limited companies. Please give me a call and let me see what I can do for you.

Adam Arnott

Associate Director

Bristol

0117 205 0214

Is your situation similar to this? I have extensive experience of advising clients who need creative property finance solutions. Please get in touch and we can arrange a time that suits you for a detailed discussion of your requirements.

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