Avamore wins Best Service from a Development Finance Provider

Posted by Avamore Capital on 23rd April 2021 -

We are pleased to announce that at this year’s Business Moneyfacts Awards we won Best Service from a Development Finance Provider and were commended for Best Development Finance Provider.

Being customer centric has always been core to what we do and so both of these awards demonstrate Avamore’s ethos and approach to each and every transaction.

Co-Founder, Michael Dean said “It's testament to the hard work and dedication of our fantastic team. (We) would have loved to have been able to pick up the award in person and celebrate with the industry in the usual way; hopefully we can do that for the next one!”

For us good service means truly listening to what the developer needs and creating solutions which support that.

As a recent example, we have noticed that an increasing number of developers are coming to us whilst they are still in the process of obtaining planning.

In most instances, the borrower would have to take a bridge before moving onto a refurb facility. Our team, however, has structured deals in such a way that developers can take the light refurb whilst waiting for planning saving them time and money.

Take a look below at this live scenario:

• The borrowers had planned to convert the 5-bedroom house into its original form of 2x 3-bedroom properties.
• The borrowers both had strong backgrounds within the development industry.
• The current scheme is recognised by the council as one property. Avamore was confident that the Lawful Development Rights would be granted and so acted in the best interests of the borrowers.
• The deal was also structured in such a way that it can be adjusted to reflect a bridge facility in the unlikely event that appropriate permissions are not granted.

“I was impressed with the whole process from start to finish, it was quick and effortless. Sometimes you have to hammer the phones and harass with email to get updates from lenders but Avamore were communicative with the client and I. There were a couple of issues along the way but Avamore's proactive attitude ensured that they dealt with and overcame quickly. I Will be using Avamore again.” – Deal Broker