Project Details
A property developer was struggling to fund his latest project in north east Scotland after the property slump in the local market. Jumbo Bridging were approached to provide a loan to take out the existing first charge of £230k and provide a facility of £650k to cover the build works.
The client had already invested in the initial demolition and clearing of the site but was unable to find a funding partner that would back the ambitious project with a GDV of £2m+. Jumbo Bridging looked at the bigger picture with regard to the housing market and understood the there was still a small but steady transaction history within the £1m+ bracket. After a visit by the QS and a re-inspection by the valuer, Jumbo were pleased to provide the full £750k requested over a 12 month period.
Jumbo Bridging is funded directly through private wealth but also has access to venture capital funds and hedge funds, meaning that we have an unlimited source of capital for your project or venture. Terms and interest rates offered to depend on the amount of funding required and loan term but start from just 0.75% per month, in many cases interest payable can be ‘rolled up’ into the loan for an agreed period.
1745
HAPPY CLIENTS
3513
LOANS COMPLETED
£783m+
IN LOANS
20+ Years
INDUSTRY EXPERIENCE
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