Hybrid Development in Kent
Our borrower required funds for purchase and development of what was a 4-bedroom dwelling in Kent, in order to convert the current property into two apartments and build 2 new semi-detached dwellings to the rear.
This was the sort of loan that a mainstream lender would have issues lending on as the exit was fairly tricky. Due to the complexity of the title and the location of the 3 dwellings, we had to be flexible and deal with 3 separate lenders to ensure a secure exit and repayment of our loan. However, this was our 8th loan with this borrower and it is no secret that a strong business relationship ensures successful completions, and this was no different, allowing an extension to the loan due to legal delays.