Large commercial mortgage for property development
12th February 2021
Key facts:
- Property in North London
- Property value: £7,850,000
- Loan amount: £5,200,000
- Interest rate: 2-year fixed at 6.75%
The property, valued at £7,850,000, currently comprises an attached five-storey mixed-use building. However, it shall be demolished to allow for the erection of a building containing 8 new dwellings in North London less than a mile from the City.
The developer was an existing client of Enness whom we had assisted in funding numerous schemes. The client was looking for a loan amount of £5,200,000 to complete the build.
When investing in commercial property it is important to know just how much you can borrow. At Enness, our team of expert brokers has access to an unusually large network of lenders, and in the specialist sphere, we are able to source very competitive rates for our clients. Read more about property development finance in UK.
With a wealth of experience in the commercial investment market, we secured a competitive fixed rate of 6.75% over a 2-year period.
Get in touch now - would be more than happy to discuss any of your commercial finance needs.
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