£520,000 Gross
30% LTV | 55% LTGDV
1.03% PM
The brief
Our solution
Underwriter quote
The complex requirements of this case demanded close correspondence between our team, the broker and the developers. Upon review of the extent of works, we designed a 15 month facility to provide the borrower ample time to finish the project and apply for a long term loan, with 100% cost of works funded in tranches.
The borrower required funds to convert their 2 storey commercial unit into a block of 3 apartments with a commercial unit below. With planning to convert the second storey offices into a residential unit and add an additional floor above, they require 100% cost of works funded in tranches.
"The complexity of the project made for an interesting process for all involved. This case is a great example of the flexibility of our product suit."
