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Development Loan for 46 Units

Property Case Studies

The Client

Our client is an experienced property developer who required funding for a development of 46 new build homes in South Lincolnshire. The client had a long standing relationship with their high street bank but they were unable to provide the required leverage on this scheme. We performed a whole of market assessment to find the client the best possible alternative.  

The Case

The client’s high street bank offered a development loan at 50% Loan to Gross Development Value (LTGDV). The client was keen to explore if the wider market could offer a product that reduced their equity input. Our property team conducted a whole of market assessment and presented the best available options.

We soured the client a development loan with an alternative lender who met the desired leverage of 65% LTGDV. The facility reduced the upfront equity requirement by 50% and provided greater flexibility. We were also able to negotiate a competitive exit fee on behalf of the client.

The Result

The client was able to secure the site and progress with the project. They are well underway with phase one of the build with four properties completed on time and to schedule and 6 properties at ground works stage when we visited the site.

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