£1,000,000 Residential development loan in Maidstone
A large development loan has been approved for a project in Maidstone. Our client intended to develop a large residential house in Maidstone, but their money was locked up in another property that wasn't ready to sell since it needed light refurbishment to realise its full market value.
They needed an alternative source of finances to purchase their new property because the property they were selling to help fund their purchase wouldn't be on the market for another 14 weeks.
For fear of missing out on the opportunity, the client wasn't willing to delay the purchase of the site.
"Our lending panel are extremely comfortable underwriting large bridging loans and development finance such as this £1 million deal," says Stephen Clark, "and we're glad to be able to help this client make their next move."