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 scope to create a number of 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 wider project, my financial projects, timescales, return etc.
“The cost of the site was £300,000, which I had already secured, and needed to secure funding for the remaining construction costs. I was incredibly impressed with their approach from the outset. They are knowledgeable and insightful and where able to propose solutions when faced with challenges or potential obstacles.
“They are balanced, calm and experienced which undoubtedly helped me and my team throughout the build.”
Upon completion, the six houses are expected to be valued in the region of £1,800,000.
The client continued: “The scheme is approaching completion now and is generating a lot of interest. We have had a number of 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.”