Our client contacted Enable Finance Property Team after their existing Bank had taken ages to look at the deal. Once the client had engaged Enable Finance to obtain Property Development Finance our client was agreed a facility within 6 working days.
Project: Residential Property Development of 3 houses
Our client currently owned the land and needed 100% of the build costs. Enable Finance worked fast to obtain this.
Funding Required: £480,000 being 100% of the build Cost
Our client need a progressive lender to fund the build out of the project in its entirety Enable Finance meet this goal and moreover ensured our funding partners understood what our client wanted to achieve. Furthermore we made sure our client had direct access with lender to ensure the deal progressed smoothly.
Profit for our client: £370,000
Our client had purchased the land for £350,000 and had a build cost of £480,000 and the Gross Development Value (GDV) was £1,200,000 being a profit of £370,000 less interest payments made.
Enable Property Development Finance
To find out more or to see how we could fund your next property development please contact Phillip Evans – [email protected]