Case Study 3
Development Finance
- We were approached by a developer to help secure the funding required for the site purchase and associated development costs for a 16 apartment development with full planning permission – projected cost £1.42million.Â
- We secured finance of £1.195million inclusive of a £60,000 interest roll up.
- The facility is for 18 months and the bank have offered a tiered interest rate structure ranging from Libor +1.5% to Libor +1.95% pending number of pre-sales/signed contracts.