Variation of Planning Permission

Allows 100% Development Finance


Experienced Developer

  • The LOT was bought in cash at Auction with Planning Permission for 3 x Residential Detached Houses.
  • The Borrower varied the planning Permission from 3 Detached Houses to 2 Detached Houses and 2 Semi-Detached Houses to increase the GDV.


Borrowers Requirements 

  • 100% Development Finance to Roll-up onto the Loan
  • Cash on Day 1 to cover Professional Fees and Lender Fees
  • An extended term to cover the build out and sale of all 4 units
  • Best Rates of Interest
  • Minimal or NO Personal Guarantees

   SOLUTION!

DEVELOPMENT MONEY secured the following:
  • 100% of Development Finance + additional funds to cover Professional/Lender fees
  • 15 month term
  • 6.75% per annum (0.56% per month)
  • Capped PGs at 20% of loan amount



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