NEW BUILD EXECUTIVE HOUSE CALDERSTONES, LIVERPOOL
Focus Commercial sourced and arranged the development funding for the construction of a 5-bedroom detached house in the affluent suburb of Calderstones South Liverpool.
What we did
Focus was approached by one of their lending partners to assist their client, who had come to the end of their term, with their development loan with their house they were constructing only part built to the 1st floor stage, with no roof, windows and front and backdoors.
The developer had run out of cash to complete the development and needed a development expert to guide and assist them back on the right track to complete the project.
Focus came to assist our now new developer client by visiting the project site, assessing the stage of the build to date and what was needed.
Focus arranged and structured a development finish and exit loan to complete this part-built site.
The development finish and exit loan facility was drawdown quickly to refinance the existing lender and provide the construction funding in staged drawdowns in line with the new schedule of works. Focus provided for the client and lender to reach practical completion with all the practical completion sign off requirements.
Focus saved their project, their investment enabling a profit in the project, and passive income on the refinance with a Buy to let Mortgage.
Development guidance, expertise and services we provided: