Property Development Bridge Loan For New Build Dream Home

Property Development Bridge Loan For New Build Dream Home

Area
Stevenage
Capital Raised
£90k

Property development can sometimes prove difficult to come to fruition – especially when a loan cannot be secured months into development when funds run dry.

In difficult times, you'll need a broker by your side to help raise fast finance for complex situations.

The Scenario

Our clients approached us after a difficult five months spent working with another broker – they'd had issues in sourcing a loan of £90k, as it was below the minimums of the lenders on their panel. 

They'd now run out of funds during the development of their dream property.

It was located in Stevenage and valued at £600k – with a projected GDV (Gross Development Value) of £800k when completed.

The problem was the funds they needed could only come from a property development bridge loan and were necessary to complete the work.

Our clients were stuck. They had an unfinished development project – which required significant costs – and had unsuccessfully attempted to secure a loan in the prior five months.

Our clients' exit strategy would come in the form of equity release on the new property once the development was completed.

This was a natural and solid repayment plan – yet, they still had not managed to get the loan they needed.

Time was increasingly becoming a factor, and additional challenges – i.e., the size of the loan, the uniqueness of the property and its construction – were complicating matters further.

The Solution

Here’s what we did for them:

  • Despite previous difficulties, our broker managed to find a suitable lender offering the best rates at the loan size they needed to complete the work - £90k at 0.84% interest per month.
  • Agreed on a term of 12 months – allowing them the opportunity to repay the loan in plenty of time with equity release from the finished property.
  • We gave our clients recommendations on a solicitor to employ, which greatly sped up the process.
  • From application to completion – we managed to secure our clients the property development loan they needed within 2 months.

Based on their previous experience - five months of broker relations without securing a loan – our clients could have potentially not finished their development project if we hadn't stepped in.

Thankfully, they came to us, and our expert bridge loan broker guided them through the process, recommended a solicitor, and chased through their application to get the funding through.

 

Max Mallinson

Finance Broker CeMAP

Cardiff

0117 332 5977

Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.

Book a free telephone consultation with me at a time to suit you.

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Jonathan Moffatt

Head of Business Finance

Cardiff

0203 880 8890

Do you need help sourcing your own business finance?

I have extensive experience securing finance for a wide range of businesses. Book a free telephone consultation with me at a time to suit you. 

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Alex Morris

Private Client Adviser

Bristol

0117 332 5061

Do you need help sourcing your own property finance?

I have extensive experience securing UK mortgages for clients. Book a free telephone consultation with me at a time to suit you.

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Scott Dutfield

Finance Broker

Cardiff

0117 959 5094

Are you looking for a similar type of property finance?

As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you

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Carly Cheeseman

Head of International

Bristol

0117 457 9922

Do you need help sourcing your own property finance?

I have extensive experience securing UK mortgages for clients. Book a free telephone consultation with me at a time to suit you.

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Nick Kerley

Finance Broker

Cardiff

0117 959 5094

Are you looking for a similar type of property finance?

As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you.

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Broker Team

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Louis Levine

Finance Executive CeMAP

Bristol

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Are you looking for a similar type of property finance?

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Bridging Team

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Sam Baker

Finance Broker

Cardiff

0117 959 5094

Are you looking for a similar type of property finance?

As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you.

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Fergus Allen

Senior Finance Broker

Cardiff

0117 959 5094

Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.

Book a free telephone consultation with me at a time to suit you.

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Jacob Phipps

Finance Broker

Bristol

(+44) 0117 959 5094

Are you looking for a similar type of property finance?

I specialize in helping international clients source residential and investment property finance for UK property. Book a free telephone consultation with me at a time to suit you.

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Jack Spillane

Finance Broker

Bristol

0117 959 5094

Is your situation similar to this? I specialise in helping clients who need creative development finance solutions, and second-charge mortgages. Give me a call any time and we can set up a detailed discussion of the finance you need. customDatabaseField-8455

Mathew Phillips

Senior Finance Broker

Bristol

0117 959 5094

Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.

Book a free telephone consultation with me at a time to suit you.

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Alex Chambers

Senior Private Client Adviser

Bristol

0117 403 4324

Are you in a similar situation? I am a specialist in residential and investment property finance for UK and international clients at Clifton Private Finance. Please don't hesitate to get in touch for a no-cost discussion of the finance you need.

Book a telephone consultation at a time that suits you.

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Luther Yeates

Senior Finance Broker

Bristol

0117 244 5561

Are you looking for a similar type of property finance?

I have extensive experience finding residential and investment property finance for UK and international clients. Book a free telephone consultation with me at a time to suit you.

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Sam ONeill

Senior Finance Broker

Bristol

0117 959 5094

Is your situation similar?

I am a bridging finance specialist at Clifton Private Finance. I can find a quick, cost-effective solution for the funding you're looking for. Book a free telephone consultation with me at a time to suit you.

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