A £2.4m development finance facility obtain in only one month

It is an exciting time for a developer when they purchase a plot of land and their vision begins to take shape, but raising funds to make that dream a reality can take time if you don’t do your research when choosing a lender. Property developers need a lender they can trust and one who will deliver finance solutions fast.

West One is known for its swift transactions and its genuine interest in its client’s development projects. This case study demonstrates how West One provided the borrower with a £2.4m loan in only one month.

 

  • Loan value
    £2,400,000
  • LTV
    65%
  • Development value
    £3,700,000 
  • Loan term
    18 months (12-month build, 6-month sales period)

 

Get your complex cases moving today. For a personalised, speedy approach to lending, look no further. For a quick chat or to find out more about our products, get in touch. Give us a call on 0333 123 4556 or drop us a message.

The client

The clients were repeated borrowers with another two developments currently with West One.

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The borrowers had purchased a plot of land in Worcestershire, which they planned to use to develop a range of units from 5-bed houses to two-bed bungalows – 9 houses in total.

With the builders in place and ready to go, the developers wanted a quick transaction so they could get the build started as quickly as possible.

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The solution most suited to these borrowers and this kind of project was a development finance facility.

The borrowers were familiar with this type of finance as they had already taken out a number of these facilities in the past.

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West One specialise in creating fast lending solutions that are delivered seamlessly. The borrowers returned to us because they had previously experienced this service from West One and knew what to expect.

West One take the time to visit sites and help projects move along as smoothly as possible with property experts on hand and quick drawdowns.

Result

By using the expertise and speed of the West One team the borrowers were able to kickstart their project with confidence in only one month.