Silver Oak Capital:- Property Development Finance
We were approached by a CEO of a London based Wealth Management firm who needed assistance in acquiring a residential development loan in order to completely demolish and rebuild his primary residence located in Surrey. He had obtained full planning to build his dream home on the site and had made arrangements to rent an adjacent property for a period of 18 months during the build period. The build cost amounted to £2 million.
The client had little to no experience in residential property development but had appointed a strong team of architects and contractors to handle the project. As the client had a strong regular income stream via his business he requested that we structure a loan where the interest could be rolled up during the construction period – and subsequently refinance on to regular interest only mortgage facility thereafter.