October 18th, 2019.
Deal of the Month October 2019: Development Finance for Semi-Detached Dwellings
Turning an existing dwelling into multiple homes can be daunting, especially at short notice, but a larger dwelling can easily be demolished and turned into several, which is exactly what a repeat client of ours recently did.
Requiring development finance in a short turnaround time, we got this difficult deal over the line.
About The Deal
A client came to us needing finance to demolish and turn one dwelling into a semi-detached property and a second detached property with new vehicular access. The development was tied up in an array of pre-planning enquiries which our client needed sorting out.
With a gross debt of £1.3m, we helped identify development finance that could solve our client’s needs. We managed to match our client with a finance deal over 18 months at 65% LTGDV.
As a result, our client was able to convert their large dwelling into multiple properties.
Pure Commercial Finance Is There For All Your Development Finance Needs
If you need development finance, we can help. Whether you need to source funds for demolition or construction, or need help with negotiation, we can connect you with finance that works for you and the characteristics of your project.