Loan of the Month – Nov 22

Our loan of the month for November is another speedy one!

For our first project with this borrower, we provided £169k to complete the development of two new-builds. Part of a larger site of 25 units, our borrower owned the site unencumbered and had built and sold 22 of the houses. He needed money fast as his buyer for the new builds wanted to move in asap!

The fact that 22 of the units had already been sold meant that Legals was going to be a lengthy process. We have all felt the frustrations of backlogs and delays, and this loan was no different. Not only did our solicitor have to review legal documents for all 22 units and ascertain our charge, but she had to do it quickly.

Luckily, we have an expert team of solicitors supporting us and subsequently, we managed to complete on this transaction within 4 weeks from receipt of enquiry.

If you have a loan that requires a quick turnaround, speak to us directly at +442037735278.