Referred to us by one of our trusted Valuation professionals, MSP Capital have supported the development of five exquisite homes situated in the serene village of Bookham in Surrey.
With the homes now complete, our long-established and highly experienced client required a loan which would not only give them more time to achieve sales from the right buyers and unlock equity for future projects, but also offered a more competitive interest rate to protect their profit margins.
Luckily, our Development Exit Bridging loan does exactly that.
More about the Development Exit Bridging Loan
Now with lower rates, this funding solution allowed the developer to unlock 67.5% of equity against the completed properties over nine months. By releasing £4.3m, the developer now had the financial flexibility to continue building. Something they’ve done successfully for the last 50 years.
A closer look at the new homes
The development which started in March 2023 is nothing short of countryside bliss and tranquillity. With a traditional building style and a luxurious open plan design, these homes benefit from ample room for modern living, whilst maintaining a classically elegant ambience.
With luxury and comfort at the centre of everything within this development, these beautiful 3–4-bedroom properties offer complete privacy with off-street parking and a gated entry road.
The kitchen of each home has been intricately designed, and each opens out onto a lovely south-facing-rear garden and spectacular views of the countryside.
With Bookham train station a mere 1.7miles away, running direct trains to London Waterloo and, London Heathrow and Gatwick airport under 30 miles from the development, residents can benefit from serene rural living whilst staying well connected to the capital and transport links.
At the time of publishing, these homes have already achieved sales for three out of the five homes – all with completion dates before the end of the year and selling at the market value or above. This is a great success for our client and shows the quality of homes that they have built.
The difference with a proactive lender
With our team, comes over 40 years of industry expertise and experience. This was available to the developer at every step of the process, both before and after the development was completed, ensuring that every opportunity was maximised to the full.
The end of a development project is a crucial time for the developer, with the need for financial flexibility and a proactive lending partner. Working with MSP granted this developer the time and space needed to ensure sales are completed at the right price for these remarkable properties.
Choosing MSP capital means receiving a lot more than just your average loan. On top of financial support, our team have the knowledge and experience to consistently provide guidance and pragmatic advice to borrowers so that they may grow in confidence and build their portfolio with the pride and awareness that they have our full support.
Our relationship-led approach is what makes us truly unique and keeps the fire burning to continue making your visions become a reality.
“We chose MSP off the back of a number of recommendations and their willingness to provide us with a competitive fixed rate development loan for our Longacre Rise development site. Chris Wright has been supportive from day 1, is always responsive and all members of the MSP team have added value at every step. They take a sensible / pragmatic approach and understand the realities of residential development.”
– Stephen Eshelby, Managing Director at Latchmere Properties
