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The brief

Our solution

Underwriter quote

Our team moved quickly to assess the liquidity of the asset and underwrite a bespoke solution. As the commercial aspect accounted for less than 30% of the property value, we managed to deliver a solution at our headline rate of 0.74% per month for 12 months. Our speedy turnaround ensured that the client avoided costly extension charges. 

The client had an outstanding debt over a newly constructed block of flats in Hull, with a vacant commercial unit below. The borrower has finished works and sold 7 flats. However, with the end of their loan term looming, the borrower needed to secure additional time to market and sell the remaining properties. 

We love having the opportunity to support ambitious property developers that are servicing the high demand for new housing. In this case, we were able to offer our headline rate and a loan term that fit the borrower's needs perfectly. Credit to the solicitors for their swift work in getting the case across the line. Fraser Mills, Junior Underwriter

£500,000

44% LTV

0.74%  PER MONTH

DEVELOPMENT EXIT: SEMI-COMMERCIAL BLOCK OF 14 FLATS

CASE STUDY

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