Loan Amount: £2,000,000
Finance Category: Development Finance
Fox Davidson was approached by a new client that had been let down by their existing funder.
They required senior debt and mezzanine development finance on a site in Bristol and needed to move quickly as their offer was accepted by the agents.
The main challenges were finding a lender that would lend at the required LTGDV and that would accept the client’s cash in at the levels they had available and allow the mezzanine to sit behind.
Having taken the call on Friday night, we had terms agreed with a funder on Monday for both senior debt and mezzanine finance.
The scheme was completely funded at a high loan-to-cost.
The Bristol property developer completed on the scheme, built out, and the properties were successful when launched to the open market.
Fox Davidson is an award-winning team of property finance consultants. To discuss your property funding requirements, please email email@example.com or call us on 0117 989 7950.
Director & Property Finance Consultant
About: Wesley has been in the industry for 20 years and has a wealth of knowledge in all areas of property finance. His real passion is working with property developers on the funding of development sites. His work ethos is to constantly gain more knowledge in order to better himself and offer more to clients and to be contactable at all times, this sets him apart from his peers.
Favourite Film: Last of the Mohicans
Quote: “In complete darkness we are all the same, it is only our knowledge and wisdom that separates us. Don’t let your eyes deceive you.” – Fat Controller