The following case studies illustrate the range of flexible finance solutions we and our partners have delivered for our clients.
Case Study 1 – A Property Developer
A developer based in Berkshire had an opportunity to purchase a run- down house. The plan was to renovate the existing house and build an extension to significantly extend the footprint. They naturally approached their bank and even though they have a track record locally and a significant cash deposit toward the purchase their application was declined some 4 weeks later putting the purchase at risk.
We were approached by them via their accountant and were able to provide a fully underwritten offer within days of meeting them with 100% of the build costs, rolled up fees and interest and 50% of the site purchase.
Case Study 2 – A Local Builder
A local builder in Worcestershire was in the process of building two houses funded from his own resources when his accountant informed him that he had received a claim from HMRC for an unexpected tax bill from several years ago. In conjunction with his accountant he decided that it was prudent to use his cash resources to settle the historic bill and attempt to raise finance from his bank to complete the build.
His bank declined on the basis that building had commenced even though he had received sign off from building regulations. He contacted us via a corporate finance house in London and we were able to provide a fully underwritten offer in days by taking a first charge on the site. As we were comfortable with the LTV and the builder we proceeded without the need for a valuation and QS report saving the borrower money.
Upon completing the project he was able to refinance the loan and has now sold the properties.
Case Study 3 – A Commercial Property Developer/Investor
A successful Midlands developer/investor building an industrial portfolio identified an opportunity to buy a vacant run down unit at a big discount from a motivated seller. They required a short term loan to assist with the purchase and refurbishment prior to securing a quality tenant to service a mortgage with their bank.
On the basis of a positive valuation report, the developers experience and strong financial standing we were able to fund the costs of the initial purchase with the developer funding the refurbishment costs out of cash flow.
Get in touch today and let us work with you to convert that opportunity into profit.