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Development Finance Case Study: No Personal Guarantees for 66-Unit Manchester Scheme

Positive Commercial Finance specialises in development finance without personal guarantees for experienced developers. This case study shows how we structured a large £8.46 million facility for a 66-unit scheme in central Manchester.
The Challenge & Opportunity
The client, an experienced property developer, secured planning consent for 66 residential units in central Manchester. A key requirement was a facility without Personal Guarantees (PGs). The site was purchased without planning, and the significant planning uplift created valuable equity in the scheme.
Our Solution
We de-risked the project for the lender by arranging pre-sales so that deposits could be used toward build costs. This structure allowed the funder to offer a Stretched Senior “Cost to Complete” facility without requiring PGs.The pre-sales deposits were drawn first. Once utilised, the senior development finance facility kicked in to fund the build through to Practical Completion. The planning uplift was accepted as developer equity, meaning the client put in almost no hard cash.

Deal Structure

  • Loan to GDV: 72%
  • Loan Amount: £8,462,000
  • Interest Rate: 9% per annum
  • Arrangement Fee: 2%
  • Exit Fee: None
  • Term: 15 months

The Outcome

The developer secured a highly favourable development finance package with no personal guarantees, minimal cash input, and full funding support — thanks to smart structuring around pre-sales and planning uplift.The client was delighted with the outcome on this central Manchester scheme.
ALL CASE STUDIES
James Waddicker

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James Waddicker
On 07977 460546 or message here
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Positive Commercial Finance is a trading name of Business Financial Solutions Limited. Registered in England & Wales 06451075. Registered office address Fourth Floor, Unit 5B, The Parklands, Lostock, Bolton, BL6 4SD . Authorised and regulated by the Financial Conduct Authority (716012). Full members of the NACFB and FIBA. ICO registration reference Z1196910.

Business Financial Solutions Limited is an authorised credit broker and not a lender. We work with a panel of lenders who will typically pay us a commission. This amount varies between lenders.

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