Case Study: Building quality family homes in Gloucestershire

Location: Gloucestershire
Loan amount: £1,450,000
LTV Day 1: 28%
LTGDV: 70%
When a broker reached out to us for help, their client had a bold vision: to purchase a site occupied by an old convenience store and build five modern family homes in its place. The project would deliver four-bedroom homes to Gloucestershire, with one property being a detached house.
With our development finance product, we were able to structure a deal for the client at 70% LTGDV This included the £1.2m construction costs and assisting with the cost of acquisition.
Our specialist development finance team were able to turn this around quickly, taking just 8 weeks from initial terms being accepted to drawing down on the facility, since then two interim construction drawdowns were released to the borrower keeping the project on track.
Katherine Smith, Relationship Manager at LendInvest, said of this deal: “This is a great example of the type of development projects that we are keen to support, with an experienced and diligent property developer creating good quality, family housing stock and we hope to assist this first-time borrower of LendInvest with many more projects going forwards”.
See our website for more information about Development Finance with LendInvest