Finance Category: Residential Mortgage
Fox Davidson works with property professionals including landlords and developers. We recently worked with a property developer who had built a block of flats in Wimbledon, London.
Due to the slowdown in the property market and as the property would achieve an impressive 7% yield our client wished to retain the freehold block of flats as an investment. Our client required funding for the development at 65% loan to value. The mortgage funds would allow them to repay the existing development finance on the property and raise some capital for their next development project.
Success in New Build Financing:
Our efforts culminated in success as we secured a buy-to-let mortgage for our property developer client, enabling them to retain and rent out their newly constructed flats in Wimbledon. The selected lender was comfortable with large loans on multi-unit freehold blocks and offered very competitive terms on 5 years fixed rate.
Client Satisfaction and Future Collaborations:
Our property developer client expressed satisfaction not only with the successful outcome but also with the personalised and expert guidance provided by Fox Davidson throughout the financing process. The positive experience has laid the foundation for a lasting partnership, reaffirming Fox Davidson as a go-to funding partner for property developers and investors.
Fox Davidson’s recent success in securing the funding for the development exemplifies our expertise in financing newly built freehold blocks of flats. Our ability to understand the developer’s funding needs, navigate lender criteria, and craft customised mortgage solutions sets us apart in the industry. As we continue to specialise in new-build financing, we look forward to supporting more property developers in bringing their visions to life, ensuring their success in the ever-evolving landscape of property development and investment.
For more information visit our dedicated page on mortgages for freehold blocks of flats or do get in touch with one of our brokers. We secure mortgages on freehold blocks of flats across the UK.