Peckham £277,000 Development 25 Days
Case Study: Peckham, London
Project Completed: November 2019
This week’s featured property is a remarkable development - transforming
a ground floor studio to a two-storey house.
We love to work with people who are passionate about what they do and
this developer was no exception. Having successfully completed a refurbishment
project, the developer quickly moved on to bigger projects. A ground floor studio
with great potential had been found, the deposit was down, the guarantors in
place and the construction company instructed. Funding was
needed quickly to complete the purchase.
A loan of £277,000, secured on a first charge bridging loan over an 11-month term, was
completed within 25 working days from underwriting to offer. With a day one release of 40% of the total facility, the developer was able to complete the
purchase - fast. The project completed in advance of the expected completion
date and is now on sale, with an asking price of £425,000.
More and more developers are enjoying the experience of working with Mint
Bridging. With no restrictions on the level of experience required, we are
one of the most flexible lenders in the UK.
Do you need auction or development finance? Talk to the Mint Bridging
team today: 0161 710 2763
Alternatively, submit an Eligibility Check and find out what you could
borrow.
The left image screenshots are before - the right are afterwards:
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