May 30th, 2016. Ben Lloyd
Deal of the Month: Releasing Equity to Fund an Additional Development
Property development and portfolio management can become difficult when you live in a different country. One of our clients came to us after realising just that.
Our client was living abroad and had to raise money from an existing buy-to-let property to ensure that another property he was trying to sell didn’t fall foul of building regulations. It was hoped that this freed up cash, would be enough to fix the issues ready for sale.
Despite the fact that he had a mildly adverse credit rating and had to complete on a tight schedule, so the contractors didn’t walk out before completing the job, the deal came to a successful conclusion.
Since, he has now sold the property and made a decent profit, as well as paying off the loan.
Article By Ben Lloyd
May 30th, 2016
Ben is the Director and Co-Founder of the Pure Group and Managing Director of Pure Property Finance.
Following a career in Barclays, where Ben was in the real estate finance team for 8 years, he decided that the market needed a more forward-thinking type of commercial brokerage so founded Pure Commercial Finance (now Pure Property Finance), the first company within the Pure Group.
Ben has extensive experience across the real estate sector and has participated in over £2bn of real estate transactions during the course of his career.
Ben oversees the general strategy at Pure Group and works with the senior leadership team to drive the Group forward. Ben is also on the Executive Committee of FIBA.See more articles by Ben