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Our Case Studies Million pound development finance arranged by the specialists in large mortgage loans

Million pound development finance arranged by the specialists in large mortgage loans

Need million pound development finance? We have the banking contacts to provide a tailored solution where other lenders may not be able to help. To discuss this or any other large or complex mortgage case, please contact us on 020 7519 4984 or email us.

Case Profile

Our client, an experienced property developer, had the opportunity to acquire and develop a site with planning consent for the construction of nine new homes, however, all his capital was tied up in other projects. He was, therefore, facing the prospect of losing the site and missing out on the opportunity and realising the development.

Solution

Using our extensive range of contacts, we were able to introduce the client to a lender prepared to back the deal by funding 100% of costs, including interest roll-up. The lending was structured as a joint venture deal with a combination of debt and equity, the profits to be shared between the client and lender upon completion and sale of the new homes. Thus, our client was able to acquire the site and is now proceeding with the development. Upon completion he will enjoy a share of the profit, which he would otherwise not have been able to earn.

Deal Highlights

Loan amount:£1,000,000
Funding:100% of all costs
Term:Up to 12 months for construction and sale
Structure:Interest roll up and profit share
Loan purpose:Site acquisition and construction of nine new homes

Notes

This case study is for information and illustration purposes only. It is not an offer, or suggestion of an offer. Each mortgage case is assessed on an individual basis and there is no guarantee that the solution described here can be repeated in the future.

Please note that this specific deal may not be available to – or suitable for – all customers, dependent on their individual circumstances. The rate quoted may become out of date at short notice and may not be available at the point at which customers enquire about it. This document may not contain all the information needed for customers to make a decision and they should seek advice.

Largemortgageloans.com is a trading name of Largemortgageloans.com Ltd. The Financial Conduct Authority does not regulate some aspects of commercial mortgages or business finance. A fee of up to 1.17% of the mortgage amount is payable, of this 25% is payable on application and the remainder on completion, e.g. on a mortgage of £1,000,000 the fee would be £11,700 of which £2,925 would be payable on application. The precise amount will depend on your circumstances.

Your home or property may be repossessed if you do not keep up the repayments on your mortgage.

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This Month’s Top Fixed Rate

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Period: 2 years

Rate will revert to a variable rate, currently 4.99% thereafter
The overall cost for comparison is 4.46%

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This Month’s Top Variable Rate

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Initial rate: 0.97%

Period: 2 years

Rate will revert to a variable rate, currently 4.99% thereafter
The overall cost for comparison is 4.37%

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Some of this month's top interest rates are listed above; the actual rate will depend on your circumstances. Please note that this information does not contain all the details you need to choose a mortgage, ask one of our advisers for a personalised key facts illustration on 020 7519 4900. The rate displayed may become out of date at short notice.

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