We worked closely with all parties to understand the client's requirements and tailor an appropriate solution. Our underwriter on the case crafted a 12 month facility, releasing £2.2 million on day one and £900,000 in further advances to ensure that all of the houses were completed to the highest possible standard.
The client required funding to refinance the existing debt on fourteen new build houses in Lincolnshire, all in varying stages of completion. Funding was also required to complete the build on the unfinished properties and to start work on their next project.
Borrowers requiring finish and exit funding for their part complete projects generally need to access such funds quickly and at rates that don't threaten their profit margins. Fulfilling this criteria can be difficult, which is why we encourage brokers to speak to us first. Our principal-led funding model and industry-leading rates mean that we can move quickly to underwrite the best deals. What's more, our unique set up whereby our underwriters handle each case from initial enquiry to completion makes us apt to spot effective routes forward that a lot of lenders miss.