Recently funded projects: some loan examples – August 2022

£275,000 12m development facility, rolled-up interest

Urgent development finance facility provided to a developer who had been let down by their lender. Works had stalled and funds were provided to complete the development of 4 new houses. Numerous legal complexities arose during the process; however, all were overcome to achieve a successful drawdown. Borrower exit plan: build and sell. Location: Wales.

£110,000 bridge, 12m term, rolled-up interest

Purchase of a freehold development site with outline planning consent for a substantial detached house. 60% of purchase price funded with further funds offered to the borrower to later fund the construction. The borrower’s profile was that of a new developer undertaking their first project. Borrower exit plan: build and sell. Location: Somerset.

£266,250 development facility, 18m term, rolled up interest

Development finance facility provided to an experienced 2nd generation builder undertaking their first development to demolish an existing dwelling and build a replacement single high value unit. Borrower exit plan: build and sell. Location: Hertfordshire.