Case Study

£1.4MILLION LOAN- TIMBER FRAME - STEEL CLAD MMC –100% OF BUILD COST FUNDED

Key Facts:

  • Planning agreed for large contemporary home to built from timber , with no BOPAS or BBA accredited timber frame

  • Site value £850,000

  • Loan required : £1,400,000

  • Gross development value: £2,500,000

The client approached us after secure planning on land they already owned as a field. They want  to see if it was feasible borrow 100 % if the build costs while also remaining in their current home and paying the existing mortgage.

The timber frame system the client wanted to use didn’t have a BOPAS or BBA accreditation which most lenders require and affordability didn’t fit with the exiting residential mortgage still in place.

Solution 

Through our strategic relationship with a specialist self build lender, we managed to negotiate that the exiting mortgage payment be excluded from affordability and used our relationship  with the lender to appeal the surveyors need for the timber frame system to have a BOPAS or BBA accreditation.  

The clients loan was approved and they borrowed 100% of build costs to be taken in stages as needed.