Mainstream lenders and High Street Banks turned the housing project away
First-time real estate developers in Dulwich had acquired a family-run garage that had fallen into disrepair and had been neglected for years.
The homeowners had no desire to re-open the garage but instead wished to develop it into a commercial site.
The London Borough of Southwark had already granted planning permission. However, they needed financial support to get the project started.
With this being their first development project the banks and other lenders turned them away.
But fortunately, they come to us and we assessed the housing project with the help of our experienced team who were able to make it happen.
We provided an initial loan that covered the acquisition costs of the property and a development loan to cover the construction fees.
This allowed our clients to move swiftly on with building without any further delay.
“I have achieved success because of them” – Clive Nunes
Here, at Hunter Finance we know the difficulty that banks and other lenders impose. Not to mention the broker fees involved.
That’s why most of our clients come straight to us to get the best property developing finance options available.
As a private lender, we have funded numerous projects from residential to new apartment developments in London, Sussex, Kent and the Berkshire area.
New to property development? Check out our tips for a successful housing development here. Plus, we’re here to help you every step of the way.
Within a year the properties had been completed and sold.
The final gross development value of the project came in at £2,235,000 with the loan-to-value ratio never exceeding 33%.
This meant that first-time developers walked away with a substantial return above £ 1,000,000.
With over nine year’s experience, Hunter Finance will lend on residential property developments and commercial projects located in the South East of England and London.
We offer loans ranging from £100k – £2.5million, with new lower rates for £1 million+ transactions and 6 -12-month terms.
The total amount you can borrow is up to 55% of the proven gross development value of the finished development.
Our qualified surveyors will conduct a Development Viability Report to give us an accurate value of your land and property and the GDV, which we will base our lending on. Click here to view the step-by-step lending process.
Are you looking to source finance for your upcoming development or housing project? We welcome all financial inquiries.