A 12-month loan for the purchase of a development site and residential construction

This £440,000 first charge loan was for 12-months and financed the purchase of a site along with the demolition of an existing Public House. This was in preparation for the construction of a £1.6m replacement four bedroomed dwelling in Surrey.

We subsequently agreed to extend the term of this loan and permit a second charge loan behind ours for the completion of the replacement dwelling.