£2.5M Bridge completed in Richmond
Andrew Stanbury, Director of Alburys 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.
Andrew 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.