Development Finance for £1,250,000 New Build House

The Requirement:

  • We had been approached by an experienced developer to assist in the purchase of land with planning to develop a 2500 square foot house with a value of £1,250,000 on completion.
  • The client wanted to 60% loan to gross development value.

The Good Stuff:

  • Margin 5.5%.
  • 2% fee in 1% fee out.
  • 60% loan to gross development value.
  • Term 18 months. Land loan with 100% of works funded in arrears.

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