The first-time developer from Hampshire had already started on his first property development when he got in-touch with Hunter Finance.
Construction had already begun on a single detached property within the village of Sherfield-on-Loddon, within Hampshire. Once construction had begun, the developer realised he would be in need of further finance to progress the project to completion.
Being a first-time developer, banks and other lenders had turned the opportunity away. Our experienced team of developers and property experts assessed the project for its potential. It was obvious to us that the risk within the development was actually quite low.
With the construction of the single detached property already underway, the developer required funding to complete the build. We were able to provide a senior debt loan of £246,000, which would cover the remaining build costs.
Once the development was completed there was strong interest in the property. Sale of the development happened quickly, which enabled the developer to secure the purchase of a second plot of land within Hampshire.
The developer began his second development shortly after completion. The final GDV was £460,000.
Have similar plans to build?
With loans of between £100K – £2.5m Hunter Finance can have funding in place in under 48 hours. Call 01825 749721.
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