Finance To Complete A Care Home Development Project In South West London

The Scenario: 

A private developer needed £330k to complete a care home development project. They were unable to secure a loan against the project due to other financial interests involved, making it difficult for the developer to raise the necessary capital.

The developer needed to find a quick solution to keep the project moving forward and avoid having to sell the development unfinished.

Our Solution:

Clifton Private Finance took the developer on as a client and soon identified a solution. We found a specialist development care home finance lender who was willing to secure a bridging loan for £330k as a second charge on a buy to let property the client also owned (valued at £470k).

This solution allowed the client to unlock the funds they needed to complete their care home development at an attractive rate of interest. We were also able to agree no exit fee for the client when they came to repay the loan, helping to reduce their overall costs.

The bridging loan was offered over 12 months, allowing the client time to complete their development and sell the finished property. They were then able to repay the bridging loan and take home a healthy profit.

Are you in a similar position? To investigate your finance options call our team on 0117 959 5094 or fill in our call back form.