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100% Development Finance deferred vendor payment

Deal Structure

65% Loan to GDV

Interest Rate 1.2% per month, rolled up

2% Arrangement Fee

1.5% exit fee

No valuation report required

Deal Summary

Our experienced developer client had found the perfect project after searching for a suitable site for some time. Detailed planning consent was granted for a 15 house development in an idyllic location in Yorkshire. The wider scheme should then allow two subsequent phases to create a private estate.

The developer had agreed a deferred land consideration which meant the Phase 1 site acquisition and build costs could be 100% funded using senior debt alone. He also secured an option on Phase’s 2 & 3.

Given the required Loan to Gross Development Value on Phase 1 sat comfortably within the lenders parameters, we arranged 100% development finance funding with the developer bringing the deferred equity element to the table as his contribution.

The developer was also the Contractor, and therefore was perfectly capable of making a start on site, with preparation and ground works. Having seen the developers previous scheme, the funder was more than happy to back him, having recognised what a fantastic location and scheme the project presented.

John Waddicker

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John Waddicker

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Positive Commercial Finance is a trading name of Business Financial Solutions Limited. Registered in England & Wales 06451075. Registered office address Warth Business Centre, Warth Road, Bury BL9 9TB. Authorised and regulated by the Financial Conduct Authority (716012). Full members of the NACFB and FIBA. ICO registration reference Z1196910.