Third Time Lucky £1.1m Bridging Development Loan for Property Developer

CONTACT CALLUM

THE SCENARIO

OUR SOLUTION All things considered, I knew that the most significant obstacle for a lender was security, and that a lender would require equitable charge across my client’s portfolio. This was largely due to the fact that the property was only part-completed, which is often why many lenders tend to steer clear of part-finished developments. Luckily, I already had an excellent relationship with a third lender who was happy to come to an agreement. I knew a bridging loan would be our best option, as it would allow us to offer multiple equitable charges across the property portfolio as extra security for the lender. I also managed to acquire an extra 6 months for my client to finish the property and complete a sale.]]>