The tool asks customers to key in the following information:
- Initial land value (day one)
- Purchase price
- Initial loan (day one)
- Build term (months)
- Sales period (months)
- Construction costs
In moments, it can give users a top-level understanding of their loan’s costs, the advance and LTGDV.
The quote can then be printed, saved, or sent as an enquiry directly to the lender.
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“Property developers and mortgage intermediaries are busy people,” said Richard Payne, director of development at Oblix Capital (pictured above), adding that the new calculator would help them save time and effort when looking for funding.
“I believe the launch not only shows how customer focused Oblix Capital is, but how upfront and honest we are with potential borrowers.”
Richard joined the lender in January 2019 from Bank of London and the Middle East (BLME).
In March last year, Oblix completed a £7.65m development loan for the construction of seven homes in Berkshire, which it described as a great example of its “strategy and borrower-centric approach” in action.