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 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.

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

Associate Director

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.

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