CASE STUDY:
DEVELOPMENT

Development Project,
lending case
Client: Jersey Developer
Security: 2nd charge over a residential development
Interest: Serviced
Property Value: £2,000,000
Loan Amount: £500,000
LTV: 50%
Completion Date: 26/04/2024
Security: 2nd charge over a residential development
Interest: Serviced
Property Value: £2,000,000
Loan Amount: £500,000
LTV: 50%
Completion Date: 26/04/2024

Details:
Our client a well respected developer approached us to secure funding to enable them to finish their development.
We had already provided the initial funds to purchase the site and with completion due for August 24 they were keen to keep to this timeframe.
After an initial site visit to confirm the progress, we were able to secure the funding and complete the loan within 3 weeks.
We look forward to seeing the finished development shortly and wish them luck with the sales.