Mr R Taylor – Leicestershire

I had sourced a commercial property which had planning permission for conversion into 5 self contained flats. The purchase price was £180,000, with build costs of £140,000. and the end value or Gross Development Value (GDV) of the project was £437,500 with each flat expected to be worth around £87,500. So there was potentially £117,500 to be made!

Most of the brokers and lenders I had approached only offered a maximum of 80% of the purchase price of the property with 100% of the build costs covered. Unfortunately I did not have the £36,000 required for the purchase so almost gave up on the property until I came across 100% Residential Development Finance! Not only did they get me 100% finance for the purchase of the property, but they also secured 100% of the build costs. 8 Months later I had sold the development and walked away with a healthy profit.

Mr S Hurley – Derbyshire

Having already started a development I was already quite cash strapped and I came across a development opportunity that was just waiting to be completed. I would have ordinarily put down a sizeable deposit to purchase the property and secured ordinary funding, however, with money tied up already in an existing development I was trapped for cash! Fortunately I came across 100% Residential Development Finance and was shown a way of doing the development without the need for any input from my side.

10 months later, I finished the development and made a sizeable profit.

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