Self-build family home capital raise

CONTACT CHRIS

THE SCENARIO

OUR SOLUTION Thanks to our vast network of lenders, I was able to source one who was able to help because of their ability to take a more rounded view of my client’s situation. I managed to negotiate terms so the plot of land was taken as one of the securities, along with his current main residence. Taking land as the collateral is not something many lenders are happy to consider so this was a great result. Another thing they were able to do for my client was to take two collaterals as a combined security resulting in my client having to make only one application. I managed to negotiate a rate of 6%, compared to the usual 12%, but instead of providing the loan on day one, my client was provided with an overdraft facility, meaning he only paid interest if he drew the funds down. To turnaround funds within four weeks is a challenge even for specialist bridging lenders who praise themselves on the quickest turnaround time, so it was impressive the Private Bank was able to move so quickly and make the process as stress-free and smooth as possible for the client. My client was very impressed with the service we delivered, and pleased I had found a Private Bank that would be able to assist with his future property acquisitions.]]>