Loan Amount £5,084,880
2% Arrangement Fee
9.25% per annum interest on debt
24 month term
Profits split 60% Developer and 40% Funder
All costs 100% funded
Developer monthly management fee included
Our client is a small developer based in the North of England. The have a good solid track record and use a 3rdparty contractor for their schemes.
The Gross Development Value of the scheme is over £7,800,000. The scheme is mainly 3 bedroom houses with 9 x two bedroom apartments.
The developer has 3 other developments progressing at the same time so had no spare cash to invest in the scheme. The decision was made to instruct Positive Commercial Finance to source 100% Joint Venture Development Finance.
We quickly pin-pointed the best deal for the client and the deal was agreed and in legals within 7 days. The client did not have to put in a penny.
We have a lot of experience with Joint Venture funders and would be happy to help any developer find the correct funding for their circumstances. Please get in touch today.