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Re-bridge of an executive detached residence prior to Development.

Deal Structure

66% Loan to Open Market Value

£563,000 loan size

Interest Rate 0.6% per month

2% Arrangement Fee

No Exit Fees

24 months term

Deal Summary

Our client had purchased a large detached residential property in an exclusive location in the North West, which required some upgrading. The client wasn’t sure how best to maximise value from the property given the current market conditions, and also given that 2 neighbouring development plots were about to have works started.

The client therefore needed a “holding” position to enable sufficient time to establish the most appropriate development plans for the property, whilst also giving time for the neighbouring builds to take shape.

We were required to seek a lender who could re-bridge and allow a 24 months term, with the option of interest being paid monthly. We secured a competitive rate of 0.6% per month, with no exit fees.

Contact John Waddicker

07974 703375

john@positivecommercialfinance.co.uk

John Waddicker

Contact

John Waddicker

Quick Enquiry

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 NACBF and FIBA. ICO registration reference Z1196910.