Development Finance To Complete New Build Project In Bristol

Area
Bristol
Capital Raised
£1.3M

The Scenario

Our client was working on a development in Bristol; he was approximately two/thirds through his development when he needed further finance to complete his project.

He had existing finance, paying 1.6% in interest per month, with a national development lender. However, when our client approached them for further finance, the lender explained that they had run out of money.

Unfortunately, our client required additional funding within two weeks or his development would stop in its tracks.

Our Solution

Our client approached us on the Friday and we were able to get the full terms of finance out to him on Monday.

As our client was going abroad on the Tuesday for two weeks, we had to act very quickly. Using our expertise we were able to get the project underwritten for the full development finance within one day. This gave our client peace of mind that his financial obligations were covered before he went away.

We were able to secure £1.3 million on his development on the lower interest rate of 0.8% per month, which saved our client a substantial amount of money. £800,000 was used to repay his existing lender and the remaining £500,000 was used to complete the development.

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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