The Client

Dipesh, an experienced property investor who had a portfolio of twelve residential properties wanted to embark on his first development project. The project was to develop one of his existing properties he owned which was a two bedroom house. He wanted to add a double storey side extension creating a four bedroom family home.

The Challenge

Despite having lettings experience, his lack of development knowledge meant many lenders didn’t want to assist.

How do development loans work?

We were able to put together a CV for the Dipesh showing that he had completed refurbishment projects successfully on time and within budget. We worked with our Dipesh and the builder he wanted to use, to satify the lender that he had the team around him that could deliver the project. The lender was happy to assist resulting in the development proceeding. This allowed our Dipesh to sell this asset at £300,000 more than the original value providing him further capital to grow his property portfolio.