We approached one of our top development finance lenders, who were able to commit to expediting the application. A meeting was arranged between ourselves, the clients and the lender to iron out any issues in a timely fashion.
With the loan to gross development value under 60% and highly experienced clients, we are able to negotiate an interest rate of just 7% per annum.
The loan was able to move forward to completion quickly, and was managed closely through the valuation and legal process to save time where possible. Development is now well under way.