The 16-month facility, structured at 70% LTV has been provided at a critical juncture, when the original funder withdrew on the day of completion.

The site currently comprises a dormer bungalow set within 0.78 of an acre.

With the backing of Assetz, Marches Homes is planning to demolish the existing bungalow and construct six new high-end eco-dormer detached bungalows built to A-rated energy performance standards. All of them will provide three bedrooms, or three bedrooms with a study or storeroom that could potentially act as a fourth bedroom.

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“We stepped in at a critical juncture on this development, providing certainty of funding when the original funder withdrew on the day of completion,” said Mark Roberts, relationship director at Assetz Capital (pictured above).

“Our ability to move decisively, underwrite quickly and deliver within a revised timescale ensured the transaction proceeded without disruption, safeguarding the sponsor's position and keeping the scheme on track.”

Miles Pattison-Appleton, land director at Marches Homes, said: “Straight away, we found the [Assetz] team to be professional, efficient and proactive, pushing professional reports and legals through to completion, and staying patient when title registration was delayed.

“The difference in service was clear and I was exceptionally impressed with their attitude to funding.”