Deal Type: Residential Property Development
Loan Amount: £450k
Loan Type: Reparo Six-Month Bridging Loan
Security: Separate unencumbered property within the developer’s property portfolio
Region: Yorkshire
Reparo worked alongside a highly experienced property developer to fund the time-sensitive development of nine apartments.
The developer was funding the acquisition through the sale of two properties and needed a six-month loan facility to be put in place quickly. This loan enabled him to take advantage of the development opportunity, while the sale of his other properties were completed.
Sharon Bryden says:
“The entrepreneur had a background of successful property investments and was happy to provide a charge over two properties but needed the deal completed quickly. Because our process is so fast, we were able to start working on the deal the same day it came in and completed within ten days. This speed was vital, so the developer didn’t miss out on the opportunity”