Planning Flex Gain for 12 Apartments
This was an interesting project where the client required a dual offer. The project was part conversion and part new build of 3 linked buildings under separate titles. The site came with planning permission but the client wanted to amend the planning to increase the viability post-purchase. We arranged a planning flex loan which gave the client the ability to execute the project with the existing planning if the new application was declined. There is also an offer ready based on the new planning when it is granted. The scheme will consist of 12 apartments and the loan was £1.8m with an LTGDV of 65% and an LTV for the purchase at 75% net.