Andy Stanbury, Director of Alburys Financials is delighted to announce the completion of a £4.2M Stretched Development Loan.
Our Developer Client required a Stretched Development Loan to repay a Bridging facility, to fund 100% of the development costs and allow for interest roll-up for the duration of the loan.
The scheme is for 4 beautifully designed luxury houses in Richmond.
We have structured a 70% LTGDV, 20-month Development facility at 8% per annum, giving our Client 12-14 months for construction and a 6-8 month sales period.
The exit route to be - Sales.
Andy commented “Gearing was a key factor to helping our Client on this particular facility. Our Client is now ready and keen to get on site after 6 months of planning and its successful outcome….”
These are details of a previous deal we have helped our Client with. Any rates or terms expressed in this case study were specific to those clients’ circumstances and may not be available now. Therefore, any terms or rates offered to you may differ and will be subject to status.
If you have any questions or wish to discuss any funding requirements, please don't hesitate to contact us. We'd love to hear from you.