At LandFund, we're proud to have recently assisted several developers in obtaining the funding they need to bring their visions to life. Our team’s deep industry expertise, extensive network, and data-driven approach have enabled us to close these deals efficiently. In this blog, we’ll highlight some of our latest successful transactions, showcasing how our strategic approach continues to drive results for our clients.
£6,585,000 GDV completion to facilitate 11 unit development in Kent
LandFund facilitated both Bridge and Development Finance for an 11 unit development in Kent. This was the developers largest project to date, and we made sure both loans completed simultaneously to avoid incurring any unnecessary interest charges.
Deal details:
- Bridge loan: 70% LTV at 0.79% PM against an unencumbered asset to facilitate some of the equity shortfall
- Facility secured:
- 70% LTGDV at 5.95% plus base
- Ensured we had the correct valuer, IMS and legal representation
£2,550,000 GDV re-development of existing property, plus a new build bungalow
If there’s one thing true about Development Finance, it’s that nothing’s ever straight-forward. This deal nearly fell apart, but with LandFund’s strong industry relationships and detailed knowledge of the role of the Independent Monitoring Surveyor (IMS) and the reports they produce, we could help move the profit-on-cost needle back to where it needed to be to get the deal done.
That’s why it’s crucial to understand the role of third parties, and know exactly where you can and can’t push back.
Deal details:
- Facility secured:
- 10.25% fixed at 65% LTGDV
- Forward funding on construction drawdowns
- 65% day 1 advance
£4,777,450 GDV new development of 9 flats in Wimbledon
Relationships and reputation matter, and this deal was a big reminder of exactly why. Our client was not the only developer in the race for this site and even after all the reports were received and solicitors engaged, the Head of Terms (HOTS) from the vendor had still not been received.
We started to suspect the worst, but thanks to LandFund’s strong relationship with the vendor’s solicitor, we were able to provide evidence of the strength of our client's position.
Our client won the site, HOTS were received the following day and after a one week exchange and four week completion, the deal was done.
Deal details:
- Facility secured:
- 10.25% fixed at 65% LTGDV
- Forward funding on construction drawdowns
- Approval of second charge for client’s investors
How LandFund can help you
We help you choose the right deal and funder for your project, and make sure the process runs as smoothly as possible. Here’s what we bring to the table:
- Act as a single point of contact - We'll assist with third parties and be there for you even after drawdowns. Throughout the entire funding process, you’ll only have to deal with us, drastically reducing the time you spend coordinating different parties.
- Speak the same language -We have an in-depth understanding of the development process - more so than the average industry professional. We know where to place your deal to get you the best terms.
- Provide a human touch - you’ll benefit from the same high standard of customer support you’ve always received from us, and we'll be fully transparent throughout the entire process. All those terms can be daunting, but we’re here to help.
If that’s not enough, you can also take advantage of our Appraisal Tool to create a professional lender-ready appraisal.
Want to find out more?
No matter where you are in your development journey, we can help you find funding for your projects. Whether you’re just starting out or looking to build 50 units, our team is happy to chat through your requirements and find you the perfect match whenever you’re ready.
