Case Study: Peckham, London
Project Completed: November 2019
This week’s featured property is a remarkable development – transforming a ground floor studio to a two-storey house.
We love to work with people who are passionate about what they do and this Developer was no exception. Having successfully completed a refurbishment project this Developer quickly moved on to bigger things. A ground floor studio with great potential had been found, the deposit was down, the guarantors in place and the construction company instructed. Funding was needed quickly to complete the purchase.
A loan of £277,000 secured on a first charge over an 11-month term was completed within 25 working days from Underwriting to Offer. With a Day 1 release of 40% of the total facility, the Developer was able to complete the purchase – fast. The project completed in advance of the expected completion date and is now on sale with an asking price of £425,000.
More and more developers are enjoying the experience of working with Mint Bridging and with no restrictions on the level of experience required we are one of the most flexible lenders in the UK.
Do you need Auction or Development Finance? Talk to the Mint Bridging team today: 0161 710 2763
Alternatively, submit an Eligibility Check and find out what you could borrow.