Case Study

Case study – Large Loan - Knock Down Rebuild - Company Owner

Keys Facts:

  • Planning agreed for a knock down rebuild of old 1960 bungalow for a new contemporary 5 bed home

  • Site value £800,000

  • Loan required : £2,000,000

  • Gross development value: £3,450,000

  • Current mortgage £400,000

  • Limited company director with a small income showing on tax return

The client approached us to see if it was feasible borrow 100 % if the build costs and enough to repay the exiting mortgage on the bungalow.

The client was a part owner in a large firm and took a modest salary which wouldn’t support the lending requirements needed. 

Through our strategic relationship with a specialist self build lender , we managed to secure finance to repay the current mortgage and fund 100% of the build costs.

The case was presented to lenders using the share of net profit from the limited company rather than personal income, combined with the track record of the business and detailed brief about the main contractor.