Loan for first-time developer to build 3 houses on vacant plot

Area
Derby
Capital Raised
£283K

It is possible to source affordable finance (0.9% per month) for a ground-up development by a first-time developer…

The Scenario

Our client runs three childcare centres around Derby and saw the opportunity to develop a vacant plot of land adjoining one of the nurseries.

He initiated the legal work to split the land title. The vacant lot was valued at £50K, and he transferred the title to an SPV (Special Purpose Vehicle) set up for the purpose, as an inter-company loan.

The Solution

Projected build costs are £220K for 3 terraced houses, expected to sell for £145K (total GDV £435K). The inter-company loan and stamp duty will be repaid post-completion.

Total borrowing required: £283K, sourced at 10.8% pa for up to 12 months.

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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