Case Study

Key Facts:

  • Planning agreed for a knock down rebuild of old 1960 bungalow for a new contemporary 5 bed home

  • Site value £800,000

  • Loan required : £2,000,000

  • Gross development value: £2,950,000

  • Current mortgage £400,000

  • Limited company director with a small income showing on tax return

 The client approached us to see if it was feasible borrow 100 % if the build costs and enough to repay the exiting mortgage on the bungalow.

The client was a part owner in a large firm and took a modest salary which wouldn’t support the lending requirements needed.  

Through our strategic relationship with a specialist self build lender , we managed to secure finance to repay the current mortgage and fund 100% of the build costs.

The case was presented to lenders using the share of net profit from the limited company rather than personal income

We secured a product interest rate of 4.49% with no fees to leave the lender at build completion