Refurb facility

Posted by Keystone Wealth Management Ltd on 1st November 2019 -

Developer requiring funds to convert a pub into 3 townhouses with a GDV of £1m. Terms agreed at 70% of purchase and 100% of the build cost at 6.5%. Due to loan size being around £500k which is below most development lender’s minimums, and traditional bridging being both expensive and restrictive on what works could be done, the client was happy with both the cost and the cash they needed to contribute (he had to put in £100k).

Photo by Devon Janse van Rensburg on Unsplash