First-Time Developer new build. £320k

The client had been let down by her funder and came to us through a recommendation from a subcontractor, who had worked with us before.

Whilst the client had some experience renovating properties, this was the client’s first new build development.

The client owned the land outright which had a current value of £125,000 – with an end value/GDV of £600,000. The total build cost of the development is £320,000.

We have provided a drawdown facility for the full build costs. The client has the flexibility to draw funds based on her schedule of works – only drawing what’s needed.

To date we have provided funding of £136,000 in 3 tranches, and it’s expected the client will draw down further funds as the build progresses.

The development is going smoothly, and it’s expected that the client will make a healthy profit of over £100,000 on her first development.

The lenders development funding is flexible, easy to draw and without the need for a quantity surveyor.

We are happy to fund first time developers who have a credible plan.

Funded: £320,000
Property Type: Residential
Funds For: Development
Timeframe: 3 Stages

No matter how difficult or complex your funding requirements may seem, we would love to talk and establish if we can help. A fresh pair of eyes can make all the difference.

We have a range of over 200 lenders in our financial toolbox, in most cases we can achieve a result. If we can’t, we will not waste your time. Contact an Aura Finance specialist today.

Feel free to call on 0161 843 5467, hit the chat button or complete the BUSINESS ENQUIRY FORM, or the PERSONAL ENQUIRY FORM.

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