The client: A sole proprietor developer of houses in Goring on Thames, borrowing money individually.

The project: Property developer, with five years’ experience purchased a bungalow in Goring and shortly after obtained planning permission to build two semi-detached properties on the land.

Both properties having garages and large plots making them more desirable to the target tenant, of high-earning professionals with families.

One sale being agreed pre-completion for £635,000, the other will enter the market for £636,000, even though the gross development value was predicted at £71,000 lower.

The client had completed three projects prior to this although there wasn’t a formal structure to these earlier deals meaning that the accounts were harder to compile.

The lender we approached was happy to focus more on the development deals already completed rather than the accounts for these developments.

Due to the clients experience and knowledge in the development industry and in the Goring area the lender agreed to lend the client 56% LTV.