This property development team has been making a name for themselves as the most sustainable developers of great quality properties in the Northwest of England. When looking to secure additional funding to complete the development of 13 new apartments in the centre of Liverpool, the team worked with industry broker Stefan Canavan of Willow Isle Capital who referred them to Ultimate Finance.
Stefan says, “The developers have an extensive background in the industry and the project is very impressive. They needed the short term funding to help them complete it and sell all of the properties at the expected market value and Ultimate Finance’s range of Residential Bridging Loans met the exact requirements of the clients, so I worked with Regional Director, Kay Williams, who wasted no time in putting together the right facility for them”.
The team at Ultimate Finance tailored a Development Exit Loan to support the ambitions of the developers and help them repay an existing funding line and give them the additional time they needed to sell the remaining properties.
Kay Williams of Ultimate Finance, says, “The apartments are well positioned within the city, and we are proud to have been able to provide the developers with a £2.9m Bridging Loan which has been has ensured they have the time to successfully complete the development. A Development Exit Loan is a perfect solution when looking to refinance an existing development finance facility when the project is nearing full completion or with only minor snagging to finish. Our competitive Development Exit facilities are tailored to meet the unique needs of this type of property development and offer up to 75% LTV with rates starting from 0.89% per month”.
Kay continues, “It was a pleasure to work in partnership with Stefan on this deal, he is very detail orientated and had gathered all the necessary information necessary for a swift process which was very helpful when looking to tailor the loan to the unique needs of the project. We worked as a team to get the client the funding they needed in place, and I look forward to working together again to provide more clients with access to the strategic funding that helps them keep moving”.
Ultimate Finance have a proven track record of supporting developers across the UK, and we have refined our Bridging offering to fit the needs of the industry. We know that where property development is concerned, timing is often of the essence, so we provide clear and speedy processes which allow us to offer a decision in principle in just 24 hours and a fully credit backed offer within as little as 72 hours.