January 11th, 2023.
Two ‘Hampshire Trust Bank’ Flat Schemes Total £10m
During the covid period, we structured 2 development deals for clients in London and the midlands.
Both were flat schemes consisting of 9 and 16 units with a total value of £10m. The finance raised was able to redeem the current development lender and provide capital in-hand for their next scheme.
Fortunately, the applications were submitted prior to the interest rate increases, so the 5yr fixed rates obtained were 3.99% and 4.19% respectively. This allowed peace of mind for the client, fixing their repayments over the next 5 years in a strong, growing rental market.
Special thanks to the team at ‘Hampshire trust bank’ for facilitating these loans, and to Andrea Glasgow personally, who was available at all hours to make sure we got them over the line.
We are working with both clients to assist them on their next projects.
If you want to discuss development finance options with our team, call us on 02080 579 178, or request a callback HERE.