- Amount – €1,000,000
- Term – 18 months
- Purpose – To refinance existing development funder and release equity to allow the clients to buy a development site.
- Summary – Clients were towards the end of a residential development of 11 units. 7 of the units were already contracted for sale however the clients wished to purchase another development site. All their equity was tied up in the existing site – the residual 4 units were valued at €1,500,000. We were able to secure funding against the remaining 4 units to allow the original funder to be refinanced and enough equity released to allow the new site to be purchased.