£2M Expat and Offshore company structure Resi Refinance Investment Loan in South East London

Alburys Property Finance is delighted to announce the completion of a £2M Expat and Offshore company structure Resi Refinance Investment Loan in South East London.

THE SCENARIO

  • The Borrower was a UK Ltd with 50% of the shares owned by a Caribbean company, its shareholder also resides in the Caribbean.

  • The security was a single building consisting of an HMO and several flats located in South East London.

  • Current value was £2.8M

  • Current debt was £1.4M

REQUIREMENT

  • The Borrower was looking to capital raise for other property investments

  • They required a short-term investment loan as they were intending on selling the property in the short to midterm

  • Interest only

OUR SOLUTION

  • £2M+ loan

  • 70% + LTV

  • Capital raise £600k

  • Interest only

  • 2 year fixed at 4.45%

  • 10-year term with no ERCs after 2 years

  • The Offshore applicant was able to complete the transaction without the need to return to the UK by using a dual qualified lawyer in both countries.

    If you have any questions or wish to discuss any funding requirements then please don't hesitate to contact us, we’d love to hear from you.

CALL US ON +44 (0)203 968 7915

£3.3M Development Refinance Loan consisting of 9 residential units and one commercial unit in East London

THE SCENARIO

  • The Development Loan that was in place had been extended several times and was due to expire again

  • There was a further time and cost overrun which the Client was unable to fund

  • The security was located in East London and consisted of 9 residential units along with a commercial unit on the ground floor

  • The security was 80% part-complete with 2nd fix and fit out required

  • Current value was £3.8m

  • Current debt was £2m

  • Remaining build costs and contingency were £750k

  • GDV was £6.4m

OUR SOLUTION

  • 12 month Development Facility

  • 1.5% arrangement fee, no exit fees

  • 0.75% pm rolled-up

  • £2.2m day one net loan to repay the existing Lender and provide a cashflow fund of £200k

  • £750k draw-down facility

  • Total facility of £3.3m

  • Completed in 4 weeks

    If you have any questions or wish to discuss any funding requirements then please don't hesitate to contact us, we’d love to hear from you.

CALL US ON +44 (0)203 968 7915

£1.6M Refinance Loan consisting of 3 luxurious flats and one retail unit in Clapham

 

Andy Stanbury, Director of Alburys Property Finance is delighted to announce the completion of a £1.6M Refinance loan.

 The Clients required a mid-term refinance and capital raise on a mixed-used scheme that they had just developed in Clapham.

 The converted scheme consisted of 3 luxury flats and a shop below. The annual rent was £110k with a completed GDV of circa £2.1M.

 The Clients’ main requirements were to repay the existing £800k loan and then capital raise for future projects.

 We were able to structure the following:

•               75% LTV loan with the addition of the arrangement fee added in giving a total loan of  £1.6M

•               Fixed rate 4.89% for 2 years

 If you need any assistance with your requirements, please feel free to get in touch.

CALL US ON +44 (0)203 968 7915

£4.2M Development Loan for 4 luxury houses in Richmond

Andy Stanbury, Director of Alburys Property Finance 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….”

If you need any assistance with your requirements, please feel free to get in touch.

CALL US ON +44 (0)203 968 7915

£2.6M Refurbishment Loan for 9 Apartments in East Dulwich

Andy Stanbury, Director of Alburys Property Finance is delighted to announce the completion of a £2.6M Refurbishment Road in East Dulwich. 
 
Our Developer Client required funding to purchase a block of 9 apartments requiring full modernisation along with funding for the construction and professional costs including interest roll up.

The Client will also be applying for planning consent to add an additional floor as well as four further units in the car park.

We arranged for our valued client a 67% LTGDV, 18-month term facility at 7.5% per annum, allowing for a 12-month conversion phase and 6-month sales period. In addition, the Lender has agreed to fund any further works that are consented.

The exit route to be - Sales and/or Investment Loan.

Andy commented “Speed and the flexibility of our Partner Lender was paramount. Tony was a great pleasure to work with and we look forward to working with him again soon” 

If you need any assistance with your requirements, please feel free to get in touch.

CALL US ON +44 (0)203 968 7915

Completion on a £2M Development Loan in Peckham Rye

Andy Stanbury, Director of Alburys Property Finance is delighted to announce the completion of a £2M Development Loan in trendy Peckham Rye. 
 
Our Developer Client purchased the former bank without planning consent. After 6 months of dedicated planning work, the Client achieved the planning consent he sought which was to convert the building into 6 luxury flats and a beautiful penthouse.

We arranged a 55% LTGDV, 18-month term facility at 6.5% per annum, allowing for a 12-month conversion phase and 6-month sales period.

The exit route to be - sales.

Andy commented “Working with Ben is always a pleasure, he did exceptionally well working up the planning. What made his loan more challenging was sourcing a lender that was happy with the presence of an offshore investor as a 2nd charge.”

If you need any assistance with your requirements, please feel free to get in touch.

CALL US ON +44 (0)203 968 7915

£2.5M Bridge completed in Richmond

Andy Stanbury, Director of Alburys Property Finance is delighted to announce the completion of a £2.5M bridging loan facility.

Our successful Architect turned Developer required Bridging Finance to help fund the purchase of a large house in Richmond.

We structured a 70% LTV, 7-month bridging facility at 0.6% per month with no exit fees that allowed our client sufficient time to obtain planning consent for four luxury houses.

The exit route was a Stretched Development Loan.

Andy commented “Speed and the level of funding were critical to helping our client with the acquisition.  We partnered with one of our key lenders who was supportive from start to finish and delivered the required funding within 2 weeks from application”

If you need any assistance with your requirements, please feel free to get in touch.

CALL US ON +44 (0)203 968 7915

£11M Development Exit Loan completed on 123 units

Andy Stanbury, Director of Alburys Property Finance is delighted to announce the completion of three development exit loans totalling £11.1M.
 
Our long term highly successful Clients are specialists in new build and permitted development schemes, required a refinance and capital raise to fund further purchases and start development works on existing pre-owned sites.
 
The property portfolio, which included 16 completed new build units near Luton and 107 partially completed new build apartments in the Midlands, has a current value of £17M.
 
We have developed a fantastic relationship with our Lenders over the years. As a result, we can often get cases sanctioned that others can’t.

If you need any assistance with your requirements, please feel free to get in touch.

CALL US ON +44 (0)203 968 7915