Development – Total Loan £191k
The situation: Clients had previously built and sold their home and wanted to do another self-build development. Initially they had arranged finance via a Scottish Building Society who had agreed a funding line but part way into the project they withdrew from that part of the market and were not willing to help them finish the project. The property they were building was top quality but it was proving very challenging to fund as it was in a geographically remote location and many lenders did not have an appetite to help.
The solution: With persistence we found a lender who was able to provide development finance to complete the property to a condition where it was refinanced with a high street lender on very attractive rates. We successfully secured £191,000.