£8.6m Development finance for returning client

We strive to develop closely held relationships, to give our clients certainty of finance which they can rely upon to successfully grow their business. As a result, we have a lot of repeat borrowers because they know we consistently deliver fast finance to start their projects.

This client returned to us after we successfully helped them with development finance for 4 previous projects.

 

  • Loan value
    £8,654,000
  • LTV
    66.7%
  • Development value
    £12,975,000 
  • Loan term
    21 months (15-month build + 6-month sale)

 

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The client

The client is an experienced developer, who has used West One for their development finance needs for 4 previous projects.

The client owned a detached property on a large plot of land, they were looking to demolish the existing property in order to develop 9 high-end apartments.

Development finance was the product best suited to the needs of the borrower for this project. The client had previously used this facility from West One and was confident in our ability to deliver fast reliable financing.

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Our agile approach, combined with the expertise of our team of construction and finance experts meant that we were able to deliver a fast seamless completion for our client in just 1 month, from application to completion. 

Result

By returning to West One for development finance, our client experienced a smooth completion in just one month allowing the client to get their projects swiftly off the ground.

 

The loan term was 21 months which gave the client 15 months to complete the demolition of the existing property and development of the 9 new apartments, with 6 months for the sale of the apartments.