Development Funding in East Sussex near Brighton

We successfully placed property development funding in East Sussex for an established client.  This experienced father and son team secured a new build development of nine houses near Brighton, East Sussex.

However, we had a number of challenges during the course of placing the funding.  These included a tight timescale, an investor party to keep happy, high leverage terms to meet and a development exit facility to run concurrently with the development funding.

The challenge was worth it though, as the opportunity for our client was great with a scheme that included a mix of three bedroom bungalows and four and five bedroom detached houses.  Accommodation of each property ranges from 1,100sqft to 2,150sqft, totalling 14,300sqft in total.

Some of the features of the properties included bi-fold doors to the living room, utility room, separate study and ensuite to the master bedroom.

Funding Headlines:

Project Location:  North of Brighton, East Sussex

Project Type:  Residential new build

Project GDV: £7,200,000

Funding Type: Property development funding

Facility Period: 18 Months

The Requirement for Development Funding in East Sussex

Developer Money Market found a solution that both supported the high leverage funding requirement but also was able to complete quickly.  A last minute change by the development exit funder capping out their loan to value at 70% needed a workaround but a change to the term and some concession on rates dealt with this extra hurdle.  So, this is a case where the management of three valuations, multiple interested parties and some moving goal posts meant a lot of work, but it came to a successful conclusion!

Are you looking for development funding in East Sussex?

If you are looking for development funding in East Sussex, then contact Developer Money Market to see what options may be available.  We have more than 120 specialist property lenders for development, bridging, joint venture, VAT loans and buy-to-let solutions.

Call us today on 01244 953 360 for an informal chat about your funding requirements.  Learn more about us via our YouTube Channel here.

For more information on Development Funding in East Sussex near Brighton talk to Developer Money Market