Fast Development Finance For 4 Properties in Yorkshire

Area
North Yorkshire
Capital Raised
£810K

The Scenario

The client, who owned two derelict buildings in Yorkshire, secured funding with another lender to finance his development. The client intended to develop the buildings into two separate cottages and, in addition, build two new build houses. The client forecasted that the properties would have an overall GDV of £1.5M. The client needed £810K to complete his development; he had agreed terms with their existing lender and even paid a 10% deposit to the vendor. However, three weeks before completion, the lender contacted the client and explained that they could not finance his development, as they no longer had the adequate funds to do so.

Let down by their existing lender and with only three weeks to secure the funding he needed, the client approached Clifton Private Finance.

Our Solution

We acted quickly to ensure the client did not lose out on his development opportunity. We were able to source the full £810K that the client needed, well within the three week timeframe.

Not only did we secure the development funding our client required through a specialist lender, we were able to negotiate a better rate of interest that ultimately reduced the entire cost of the client’s project.

The client was able to complete his development to achieve the forecasted GDV.

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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