Stalled Development Gets Green Light With BFS Funding

More Info Below

BFS has provided vital funding to developers at a part-completed housing scheme in Mold, North Wales

The site, set in a popular residential neighbourhood, includes five new-build detached houses, each at various stages in terms of construction. The clients' had approached their own lender and were declined a loan based on criteria, despite having banked with them for over 20 years and with an excellent financial history and credit rating.

The funds were required for a short term only, as there was already strong interest in the site with buyers eager to snap up properties off-plan. The clients are seasoned developers who had purchased and built out the site using the majority of their own funds.

Rebecca Myers of Bridging Finance Solutions explained: “The client approached us via the brokers as a quick injection of funding was needed to essentially allow the development to once again continue.

“As a specialist and independent short term funder, we are able to take a balanced view of the lending proposal and consider the clients track record, the value of the site, progress to date and much more. We felt confident in providing the £700,000 loan within a speedy 12-day turnaround, giving the client the vital cash injection that they needed.”

Rebecca of BFS added: “The property market continues to experience exponential growth with supply outweighing demand. We're confident that this quality scheme will sell out in rapid time allowing our clients to see a healthy return, repay their bridging loan and essentially move onto their next development.”



Share this page

Got questions? speak to our team

call us on
0151 639 7554
or start online
Apply Now