Monday 14th December 2015
At Focus Commercial, one of our most popular services is development finance.
Recently, we had an enquiry to help with the purchase of a large property in Walthamstow. The building was previously a care home for the elderly and the project manager planned to convert the building into two residential properties and retain them within the client’s existing portfolio. The only concern with this project was that the necessary planning was not yet in place however thinking outside the box is something every property developer must do when looking at new projects.
The request was for 100% of the purchase price with the funds for the refurbishment coming from the client’s savings. A 2nd charge was offered over nine properties in lieu of the deposit, all within the same area as the ex care home. After the valuations were completed on the various properties, the loan to value finished at a respectable 70% and a formal offer was issued.
For more information on this case study or to see more of our testimonials, you can visit our main site here:
If you are interested in taking development finance, you can find out more information on our dedicated products page here: or feel free to get in touch with one of our offices:
London Office: 0208 017 1221
Liverpool Office: 0151 556 1122
Glasgow Office: 0141 375 1155
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