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)
-10%
Term
36 Months (3 Years)
About the project
An existing client had just built their dream home in Hampstead, London, NW3 with a GDV of £13m. There were some surprising costs that arose thought the project on the build and the client wanted to enjoy the home before they had to sell. The rate secured was a floater at 7.0% pa rolled up for 36 months (3 years) but can go to 60 months (5 years) subjected to equity position (as the interest is retained). We raised £1m.
What we did
We bought the client 36 months to sell and enjoy the home. More than enough time to sell such a luxury home.
- LTV -10%
- Interest Rate 7% per annum
- Rolled up interest
- Interest was retained for the term
Results
We gave comfort to the client to enjoy his 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
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