Residential Development Completion Funds Bridging Loan
GWD Finance are specialists in providing bridging loans for the completion of residential development
If you have carried out a residential development on your land or to your current residence and costs have overrun, we can secure bridging finance to complete the project.
These may be secured against the property itself (depending on its condition) or another property. The loan would not require monthly servicing and could be repaid by refinancing when the property is completed, or sale of the asset when it is completed.
Example
We have a client who was developing a property on her land for a family member to live in.
The costs of the development had spiralled due to the current economic situation and she was short of where she needed to be to finish the insides of the property.
We raised funds to complete the property and then they were repaid through refinancing the loan through a standard mortgage that would not have been available when the property was unfinished.