+
CLOSE
+
CLOSE
Register

By submitting this form you confirm that are happy to submit your data, which will be used solely for the purposes of my above enquiry

+
CLOSE
Quick Enquiry

By submitting this form you confirm that are happy to submit your data, which will be used solely for the purposes of my above enquiry

Deal Structure

55% Loan to GDV

69% of Total Project Costs

Interest rate – 6.5% per annum

Arrangement Fee – 1.5%

No Exit fees

18 months term

Deal Summary

Our experienced developer client had acquired an option on a site in the South East, subject to planning. After some time, planning consent was granted for the development of 12 houses in a gated community environment. The developer had a series of successful schemes behind him, and was able to purchase the site outright, as well as contributing funds towards the start of the works.

We were instructed to source a development finance facility at no more than 55% of the Gross Development Value, and this was to include a provision for the lenders’ fees and interest.

The developer was keen to keep the Personal Guarantee requirement limited, given his very significant cash contribution and so we opened discussions with funders who we knew could accommodate.

The developer was pleased with the options available and decided to work with a lender who offered an interest rate of 6.5% fixed, on the drawn sum. Personal Guarantees were strictly limited to interest and cost over-runs only. In addition, there were no exit fees or non-utilisation fees.

Contact John Waddicker

07974 703375

john@positivecommercialfinance.co.uk

Follow us on @PositiveComFin
LIMITED OFFER! Bridging Finance at 0.45% pcm for up to 70% LTV https://t.co/6gLBcyG5sp
Sign up to our newsletter
© Copyright 2019 | Positive Commercial Finance