Loan for first-time developer to build 3 houses on vacant plot
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.
Scott Dutfield
Finance Broker
Cardiff
0117 959 5094
Are you looking for a similar type of property finance?
As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you
Carly Cheeseman
Head of International
Bristol
0117 457 9922
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I have extensive experience securing UK mortgages for clients. Book a free telephone consultation with me at a time to suit you.
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Nick Kerley
Finance Broker
Cardiff
0117 959 5094
Are you looking for a similar type of property finance?
As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you.
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Broker Team
Cardiff
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Louis Levine
Finance Executive CeMAP
Bristol
0117 457 7862
Are you looking for a similar type of property finance?
Get in touch today and find out how I can help.
Do you need help sourcing your own property finance?
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Sam Baker
Finance Broker
Cardiff
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As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you
Fergus Allen
Senior Finance Broker
Cardiff
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Jacob Phipps
Finance Broker
Bristol
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Jack Spillane
Finance Broker
Bristol
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Mathew Phillips
Senior 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.
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Alex Chambers
Senior Private Client Adviser
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.
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Luther Yeates
Senior Finance Broker
Bristol
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Sam ONeill
Senior Finance Broker
Bristol
0117 959 5094
Is your situation similar?
I am a bridging finance specialist at Clifton Private Finance. I can find a quick, cost-effective solution for the funding you're looking for. Book a free telephone consultation with me at a time to suit you.