Development Finance For New Build 6 Bedroom House

The Scenario:

The client had inherited a large building plot in Yorkshire.

It had detailed planning permission for a large 6-bedroom detached house.

The building costs had been calculated at £300K and the client needed 100% funding.

Our Solution:

After assessing the property valuation a lender was found who could offer the client the full amount required.

The deal was broken down into 5 stages;

Each stage finance would be released upon re-inspection of the project by the lender's surveyor. The client was happy with this arrangement and after accepting the offer, the first stage funding was released 48 hours later.

The whole project was completed in 5 months, after which the client replaced the bridging finance with a long term mortgage.

Are you in a similar position? To investigate your finance options call our team on 0117 959 5094 or fill in our call back form.