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.
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.