The Client:
The developer was a highly experienced property developer and repeat borrower, who has other development projects with West One.
The Situation:
The client wanted to borrow just over £8m to purchase a plot of land to build 15 houses on the site which would have a final value of £11.6m. In this instance, speed was necessary to ensure the completion of the land purchase in under 7 days.
The Solution:
West One worked closely with a trusted value and monitoring surveyor, who immediately inspected the site and quickly produced the valuation report. West One's underwriters worked over the weekend with the borrower and solicitor to make sure all documents were signed and ready for completion day.
The Benefit:
The existing relationship coupled with the team's expertise meant that this case was completed in record time. Knowing the borrower and their experience ensured comfort with the lending and ensured there was little risk, in addition, having an expert team and network of property professionals means valuations and inspections can happen faster.
Using West One allowed the client to obtain the development finance needed, and at the speed required.
The Result:
The team's strong expertise and thorough knowledge resulted in a quick turnaround, which the client has come to expect.
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