The financing will be used to support the acquisition and construction of a permitted development conversion project, delivering 46 flats.
The unnamed borrower, an SME housebuilder, secured the facility at 70% LTGDV.
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“In a market that continues to be shaped by elevated interest rates and tighter conditions, it’s encouraging to see well-conceived schemes attracting appropriate lender appetite,” said Tim Clark, senior associate at LEXI (pictured above).
“This deal reflects both the resilience of residential development opportunities and the importance of structured finance in enabling delivery.”
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