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

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.

James Ellacott

Commercial Finance Broker

Cardiff

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Simon Mullins

Finance Broker CeMAP

Cardiff

0117 959 5094

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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.

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Paige Dumpleton

Finance Broker CeMAP

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.

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Jonathan Moffatt

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Cardiff

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Alex Morris

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Bristol

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Scott Dutfield

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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

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Carly Cheeseman

Head of International

Bristol

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Nick Kerley

Finance Broker

Cardiff

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Louis Levine

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Bridging Team

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Sam Baker

Finance Broker

Cardiff

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Fergus Allen

Senior Finance Broker

Cardiff

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Jacob Phipps

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Bristol

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Jack Spillane

Finance Broker

Bristol

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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. customDatabaseField-8455

Mathew Phillips

Senior Finance Broker

Bristol

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Alex Chambers

Senior Private Client Adviser

Bristol

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Luther Yeates

Senior Finance Broker

Bristol

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Bridging Finance Team

Clifton Private Finance

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