£1.5 Million Development Finance Deal
- Thomas Brogan
- Feb 15, 2024
- 1 min read
Updated: Nov 19, 2024
My name is Thomas Brogan and I am a Property Finance Broker here at Approved Finance Group and I have an exciting deal to share with you. I was able to use my expertise and connections for a recent client who required the finance of a new development of 2 properties with a value of £1,500,000 upon completion.
The client approached me looking to finance 2x 5 bedroom detached properties, each worth £750K upon completion. The challenge the client faced being that the development was already part complete(both houses already built up to the damp proof course).
The houses were also being constructed out of non-standard materials as the walls are being built from Structural Insulated Panels, manufactured by the client’s own company. This created a challenge to find a lender who will accept part-complete developments and properties built with innovative construction methods.
Even with these challenges, I was able to utilise our extensive 125+ lending panel to secure the complete funding the client needed within a quick turnaround.
Is your commercial construction or renovation project in need of development finance? To find out more information on how this product can benefit you - click the link below or to speak to a member of our Property Finance team, call us on 01908 429888 or email us at info@approved-finance.co.uk.
