Finance for listed building allows facelift

We were approached by an inexperienced developer looking to move up a level in terms of complexity of development and loan requirements.  The developer was looking to purchase a grade two listed property in Blackheath.  

How did we help?

We arranged a loan at 70% of the purchase price and at 100% of the development costs.  The property value at purchase was £1.1m and post renovation value was £1.5m.

We arranged the loan on an interest only basis on a 12 month term, with a 1% lender fee and interest rate of 1.1% per calendar month with no exit penalty.