BFS has confirmed a £350,000 development loan with a client who is set to transform a disused agricultural barn into a stunning three-bed family home.
The property, in Oswaldtwistle near Accrington, will see the renovation and conversion of the barn to create a two-storey plus basement home.
The client, who owns an Electrical and Mechanical company, works with large retail brands and has the contacts to bring in a team with the necessary skill set to complete the work.
A development loan was needed to secure the property whilst the client waited for the sale of his own home to complete. The £350,000 bridge will be used towards the purchase and build costs with a GDV of £750,000.
Angela Jones of BFS commented: “The property was a great find and is set in an idyllic spot, so clearly wasn’t going to remain on the market for long; however, his house hadn’t yet sold, and so by securing a development loan, he was able to make the purchase.
“As with many of our projects, time is of the essence, and we worked incredibly hard to complete the deal in rapid time and ensure the client could secure this fantastic project.”
