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£2.3M Development Loan for Luxury Homes

Property Case Studies

Bespoke Development Finance and Finish Product for Five Luxury Properties in St Albans

The Client

Our client is the owner of a property development company who specialise in delivering top end, high specification, affordable homes.

This is a new development of 3 homes and 2 residential barns on the outskirts of Harpenden. The project was part completed when the developers encountered delays owing to COVID.

The Case

This development rests on a site that previously operated as a farm. The dwellings consist of five units made up of a four-bed detached barn, two bed detached barn and three four-bed semi-detached new homes. The properties deliver luxury living with high specification design and top-quality interiors.

At the time of refinance, our client had part-completed, part-sold and taken a part-exchange on one of the properties. Additional time and finance was required to pay off the original lender and allow for the completion of the fourth and fifth build.

The Solution

Financing a part completed build can be a challenge. We were able to work closely with a lender who took a creative approach and delivered a bespoke development finance product for our client. The product was sourced at a quick pace, despite the complex legal structures involved and a high loan to value was achieved. We were delighted to support our client in the completion of this fantastic development.

Speak to the development finance team about your enquiry here.

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