16 August 2014

Property Developer Finance

Property Developer FinanceProperty Developer Finance

A local commercial property surveyor approached us as he had a client that had purchased a residential property at auction and needed to complete within 28 days, the funding he had had fallen through and the client was starting to panic.

We phoned the client within 30 minutes and got the facts. Rather than request more detail from the client we took the auctioneers details and contacted them direct, obtained the property details, values, rental incomes and other essential details.

As a result of having all the information we needed, we contacted a specialist property finance lender who gave an agreement to fund the purchase by way of loan, the agreement was received within 15 minutes.

We responded to the client with a solution to funding the auction purchase within 90 minutes, which was way above the client’s expectations and something we were delighted to have achieved.

Taking It A Step Further

Knowing the client wanted to purchase more development properties at auction, we obtained a facility for them which allowed for a line of funding to be made available, agreed before the next auction based on value and lot number. This finance line was obtained without any valuation fee or lender legal fees.

By meeting the immediate need and giving a solution for future purchases both the client and the surveyor who introduced them were delighted.