- 6th April 2021
- Posted by: DMM
- Category: Bridge Finance
We get to see some interesting properties in our business but finding property bridge funding in Scotland was particularly satisfying with this spectacular project.
This opportunity comprised the conversion of a large detached Victorian house of some 8,200sqft back to a four bedroom family home following previous use as a youth hostel. The setting is one to dream of having stunning views over the Clyde Estuary, and the Isles of Cumbrae & Bute.
The building requires complete modernisation and extends to nineteen rooms. We are more often than not, asked to find bridge funding in Scotland to convert such large properties into smaller homes and so this return to its former glory as a family home is great to see.
This character home is in good hands too with a developer who has completed a number of other such restorations across Scotland. The developer proposes to complete the house to a high standard and with sympathy to the elegant period features which, fortunately, still survive. The lucky new residents of this home will also enjoy lovely large gardens with a long driveway with an approach over a small bridge.
“With over 100 specialist lenders together offering over 300 loan products, borrowers can find out the likely funding opportunities for their project. In addition, the team at DMM provide direct support and can do the ‘leg work’ on behalf of the client to place a facility.”
Bridge funding in Scotland solutions
There are a number of potential opportunities for bridge funding Scotland, but the lender chosen had flexibility with how they calculated their loan to value. In this instance they were prepared to use the actual valuation of the subject property and not simply the acquisition price. The developer had been successful in securing the property at a keen price in return for a swift completion and this helped with securing the facility.
Developer Money Market (DMM) created the UK’s first online loan comparison website where property professionals can search instantly for development finance. With over 100 specialist lenders together offering over 300 loan products, borrowers can find out the likely funding opportunities for their project. In addition, the team at DMM provide direct support and can do the ‘leg work’ on behalf of the client to place a facility.
If you are looking for bridge funding in Scotland, then Developer Money Market can offer independent assistance to find a solution. Contact us today on 0207 096 2003, email us via [email protected] or compare bridge funding in Scotland instantly via our online platform here.