Development finance for flats in London

Area
London
Capital Raised
£1.75M

The Scenario: 

A property developer had an opportunity to purchase a site in London with the aim to build four flats. Planning was in place, but the developer needed to move fast to secure the purchase. 

They needed to borrow a total of £1.75 million to buy the site and fund the development costs. They did not have any suitable assets to secure a loan against, making many lenders cautious about offering the required finance. 

Our Solution: 

The developer contacted Clifton Private Finance and we found a lender who was willing to secure a bridging loan for the full £1.75 million against the development site and its estimated gross development value (GDV) of £2.9 million. 

We negotiated an 18 month loan term, giving the client the 12 months they required to complete the build and a further 6 months to either sell the finished development or refinance to repay the bridging loan

We were also able to agree a highly competitive interest rate of just 0.62% with the lender, allowing the client to minimise their repayments and increase their potential profit.

Jack Spillane

Finance Broker

Bristol

0117 959 5094

Is your situation similar to this? I specialise in helping clients who need creative development finance solutions, and second-charge mortgages. Give me a call any time and we can set up a detailed discussion of the finance you need.

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

Senior 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 a time that's convenient for you to discuss your situation.

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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