Development Finance Raised for New Developer With No Experience
Here at UK Property Finance, we usually find ourselves organising fast and reliable development finance solutions for more experienced developers. However, we were recently approached by a pub landlord who had no prior experience in the development sector and was looking to turn his attention from running a pub to becoming a successful landlord.
The pub itself was half a mile from a neighbouring university in Greater Manchester, and while it had been a popular haunt in the past, the business was now costing our client far more than he was making. His initial brainchild was to turn this dying venture into an affordable block of flats that would prove to be very popular amongst local students while also being highly profitable.
Although the landlord had tried to finance his redevelopment project using funds acquired from high-street sources, he found his applications were being met with little interest and even less success. This is precisely where the team at UK Property Finance was able to help.
As leading development finance experts, we were able to streamline our clients’ applications to perfection and make their ideas appear highly attractive to potential lenders, many of whom we enjoy exclusive partnerships with. With due diligence and our extensive experience in sourcing short-term development finance for clients of any conceivable background, we were able to source practical funding in a matter of two weeks, which enabled our client to proceed with his dream of becoming a landlord of a very different kind!