Commercial Finance Brokers (UK) (CFBUK) was approached by clients with significant experience as property developers who had identified their next project. This consisted of two adjacent building plots, both with planning permission to build five bedroom executive houses. Our clients had the funds to purchase the plots and were seeking finance to support the build costs.

The loan required was £700,000 + rolled up interest and against this the developers had the value of the plots, some £700,000 and the gross development value of the project which was estimated at £2.4 million.

Our clients, who had a healthy track record of turnover and net profit, were seeking to roll interest during the 12 month build, with funds repaid from the ultimate sale.

CFBUK was able to secure full funding at a competitive rate secured was bank base rate plus 4.45% with interest rolled during the 12 month build.