The loan that helped us reach our £30m milestone, and what a case it was! This borrower required funds to purchase what was 8 garages with planning for two high-spec detached properties for £570k, along with £400k for the development itself. This was over our maximum LTVs, but we found a way to lend by taking an additional charge over one of the borrower’s other properties.
This loan was one of those occasions whereby we didn’t only provide funding for another great project, but also created a meaningful business relationship that we know we will carry forward to several other projects. A first-time borrower of ours, they were a real pleasure to work with throughout. The same can be said for the broker on this case, who we were reintroduced to having previously worked with him. With all our loans, we became a team which ensured that any last minute roadblocks, common with complex development loans, were dealt with smoothly and efficiently.
We’ve set a promise to ensure that our brokers and borrowers alike feel listened to, learning what their appetites really are. This way, any differences or halts to the lending process are smoothed out quickly. Getting to know the person is the key to a successful completion, and this case rung true to that.
If you’ve got any complex development loans you’re struggling to place, we’ve got a Lending Team at your disposal to talk through any questions or queries.
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