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We funded a prestigious development in a small seaside village. The owner, a planning professional but with no direct prior experience as a developer, had held the land for a number of years, finally gaining planning permission for 9 houses in 2007. As the recession hit, he was unable to find funding through the banks. AEF agreed initially to fund all the infrastructure and build out 3 houses in full, 3 to shell and 3 to slab. Within 6 months of the commencement of construction work, 5 properties had been exchanged, and we agreed to increase facilities so that these 5 properties could proceed to completion. This illustrates how we aim to be flexible to the client's needs where possible.

 

Lending:

£ 4,100,000 GDV

£ 1,625,000 Loan

LTV 40%

New Build – 9 Terraced Houses, North Yorkshire Coast

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Tel: 01759 458047

Email: info@aef.co.uk

Address:

Regent House | 11 Regent Street | Pocklington | York | YO42 2QN

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