CONSTRUCTION OF 3 BUNGALOWS
50% LTV / 49% LTGDV / 79% LTC
The underwriter on the case crafted a 15-month facility with further advances totaling £330,000. The length of the term ensures the client has ample time to build, market, and sell the properties.
Our client had purchased a plot of land with planning for 3 bungalows in Ipswich and needed a development facility to begin works.
It was great to drill down into the logistics of the case and find an efficient way forward. There's growing demand for property in this area, so it's great to be able to greenlight a project that will help in meeting this demand.