We dealt with Steven and he was very helpful, personable and explained in layman’s terms when needed. He was full of good advice. We got a great deal with his assistance. Thank you!
Customer Type:
Private Client
Category:
Development Exit Finance
Status:
Completed
Tags:
Property Value
13.5m
Loan To Value (LTV)
7.4%
Term
36 Months (3 Years)
About the project
An existing client had just built their dream home in Hampstead, London, NW3. The property GDV was £13.5m. There were some surprising costs that arose thought-out the project and the client wanted to enjoy the home before they had to sell. The rate secured was a floating rate at 7.0% per annum and was all rolled up into the deal for 36 months (3 years) but could have gone to 60 months (5 years) but was not required by the client.
What we did
We bought the client 36 months to sell and enjoy the home. This was more than enough time to sell such a luxury home.
- LTV 7.4%
- Interest rate 7% per annum
- Rolled up interest
- Interest was retained for the term of the loan
Results
We gave comfort to the client to enjoy their master piece and sell at his own pace
- Releases equity on day one
- Bought 3 years time horizon to sell the luxury home
- Did not have to service the loan
- Had funds to complete the build to an exceptional finish and furnishings
Are you looking for a similar type of property finance?
As a specialist bridging loan adviser at Madison Carter Finance, I can take a 360 view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you.