Case study: Regulated capital raise for self build in Scotland
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Location: Perth, Scotland
Loan amount: £83,000
LTV: 14.63%
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A broker working on behalf of a couple who were frequent self-builders approached us for a capital raise to support their client with the completion of their new home.
The development, a brand new home just outside Perth in Scotland, had faced challenges due to increase in labour and material costs. As a result they wanted to raise against the current value of the property to complete it.
It was wind and watertight and ready for ground works, 2nd fixes and a final payment to the main contractor, after which the new property would be valued over £600,000.
The couple had been active builders of several properties of the past 20 years, building from scratch and then expanding properties with increased value. This history of completing this type of work made us happy to support them in finishing their new home.
With a plan in place to refinance on to a residential mortgage to repay the loan, we supported them with the money they needed to complete the project.
Our regional BDM, Tatyana Stefanova, said this about the deal:
“It was great to be able to support the broker and their client to help them complete their next home.
“I think the particulars of this deal have really showcased the flexibility in our regulated bridging finance products and how it can be used to support homeowners at different stages of their purchasing journey.
“The labour and material challenges in the construction industry are well documented, but perhaps less so for self-builders and homeowners undertaking refurbishments or extensions. I’ve fielded calls from several brokers in recent months looking to solutions to these problems, and we’re more than happy to help.”
To explore our bridging products, get instant quotes and apply online, visit our bridging page.
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LendInvest Loans Limited is a company registered in England & Wales with Company No. 09971600.
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