Highly experienced builders with a fantastic opportunity
- Location: South East
- Amount Required: £1,000,000
- LTV for entire deal: 71%
- Sector: Development
LTV represents Loan To Value, where Value is an up to date valuation of the property involved and Loan is the total amount to be lent to the borrower, including the Investor's loan.
This is a fantastic opportunity for all involved. The builders are long standing, experienced developers who have been offered a site with full planning for 13 units, in a sort after location at an excellent price. This is close to an existing site they are already developing. Overall costs, including purchase, are £4.6m with a GDV of £6.5m. This is creating a healthy profit of over £1.8m. A prime lender is already involved and willing to commit £3.6m and we are looking to raise a further £1m. A second charge is offered with an attractive rate available. Exit will be from sales. Drawings, costings and client CVs are available to interested parties.
