Case Study

£300,000 Loan - 18th Century Farmhouse Renovation

Key Facts:

• Planning agreed to renovate property, which was part completed by a family member before coming to a halt.

• Site value £350,000

• Loan required : £300,000

• Gross development value: £650,000

Problems:

The client approached us as they were having difficulty finding a lender who was happy to fund the project as it had been part completed and works had come to a halt.

Solution 

By ensuring the risk was properly communicated to the lender we got the case agreed. This included highlighting the contractors responsible for works to date and moving forward, as well as ensuring all the necessary insurances and sign offs were in place for them to take a charge over the property.