Finance for Lincolnshire Class Q barn conversion into 2 dwellings

Area
Leicestershire
Capital Raised
£660K

Rural properties with outbuildings offer very desirable potential for development into dwellings for sale or letting income. And Class Q permitted development can make it happen sooner. Conversion costs can be high, but the uplift in value is impressive.

The Scenario

A developer approached us who had bought a farm with outbuildings outside Melton Mowbray: he  had a Class Q application to convert a derelict barn into two dwellings, and was looking at his finance options.

The site was valued at £350K, with a projected GDV of at least £1.1M

Build costs, professional, marketing and sales costs were estimated at £600K+.

The Solution

For an LTV not exceeding 60%, we found the funding he was looking for at a very competitive 8% pa, to be repaid by sale or refinance of the two finished homes.

Funding was structured with an initial advance of £170K and development finance of £435K, running over an achievable 18-month term - lending to be repaid by sale or refinance.

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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