Renegotiated Drawdown Finance Facility For Experienced Developer In Hereford

Renegotiated Hunter-style Finance For Experienced Developer

Area
Herefordshire
Capital Raised
£1M

Good broker-client relationships don’t end when a deal is done. Improving on a previous best-available offer is a win-win all round.

The Scenario

This was a client for whom we had previously arranged a flexible finance facility for development projects.

After running a family business in Herefordshire, he built up a property portfolio and had an impressive development track record: some 120 houses completed.

His most immediate projects for which he was looking for finance were to convert a shop with low rental return into two flats (£150K) and purchase a field and apply for planning permission for it (£150K).

The Solution

We had arranged a flexible draw-down finance facility as the first charge against his current portfolio of 18 properties, at a rate of 0.75% per month.

Further discussions with an alternative lender – a private bank – resulted in a proposed facility with greatly-improved terms, at 0.3% per month for a £1M facility for five years.

The same bespoke flexibility: no requirement to draw down a minimum of £500K, no early repayment fees. The client pays a 2% arrangement fee but interest only on the monies he accesses.

An excellent result for a long-term relationship.

Simon Mullins

Finance Broker CeMAP

Cardiff

0117 959 5094

Are you looking for a similar type of property finance?

As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you.

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Paige Dumpleton

Finance Broker CeMAP

Cardiff

0117 959 5094

Are you looking for a similar type of property finance?

As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you.

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Jonathan Moffatt

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Cardiff

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Bristol

0117 332 5061

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Scott Dutfield

Finance Broker

Cardiff

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As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you

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Carly Cheeseman

Head of International

Bristol

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Nick Kerley

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Cardiff

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Louis Levine

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Sam Baker

Finance Broker

Cardiff

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Fergus Allen

Senior Finance Broker

Cardiff

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Jacob Phipps

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Bristol

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Jack Spillane

Finance Broker

Bristol

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Is your situation similar to this? I specialise in helping clients who need creative development finance solutions, and second-charge mortgages. Give me a call any time and we can set up a detailed discussion of the finance you need. customDatabaseField-8455

Mathew Phillips

Senior Finance Broker

Bristol

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Alex Chambers

Senior Private Client Adviser

Bristol

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Luther Yeates

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Bristol

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Sam ONeill

Senior Finance Broker

Bristol

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