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Residential Development Finance
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Location - Sheffield
Property Value - £3,810,000
Loan Amount - £2,600,000
Loan Type - Development
LTGDV - 68%

We have provided development finance for the stunning conversion and extension of a historic building and adjacent land into 12 houses with a GDV of £3,800,000.

As four of the properties had been sold with contracts exchanged, even though the loan to gross development value at 68% marginally exceeded our guidelines, with individual underwriting we provided the requested facility to finance the cost of the site, construction and interest.

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