Bridging Finance Solutions has confirmed a £1.1million loan to a developer who is currently approaching completion of a six-home scheme in Moreton, Wirral.
The client had identified a derelict site, formerly used for commercial purposes, recognising the scope to create several homes subject to planning. Funding was needed to support the construction costs, and he began discussions with the team at BFS during the infancy of the scheme.
He said, “Bridging Finance Solutions had been recommended to me as a specialist in development finance, and I approached them to discuss the more comprehensive project, my financial projects, timescales, return etc.
“The site cost was £300,000, which I had already secured, and needed funding for the remaining construction costs. I was incredibly impressed with their approach from the outset. They are knowledgeable and insightful and can propose solutions when faced with challenges or potential obstacles.
“They are balanced, calm and experienced, which undoubtedly helped my team and me throughout the build.”
Upon completion, the six houses are expected to be valued in the region at £1,800,000.
The client continued: “The scheme is approaching completion now and is generating a lot of interest. We have had several investors who are considering the acquisition of the entire site, including a housing association. We expect all six houses to be sold in the coming weeks.
“We’re already exploring our next project and would indefinitely work with BFS again and would recommend the company, its people and its services to anyone considering funding for their property development.”