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The developer had completed four homes on the site, with one property sold off-plan and three remaining on the market — with a combined value of £5.15 million, the facility provided refinancing for the existing development finance and included a capital raise to support future projects.
The transaction was introduced and packaged by Complete FS, and completed in five weeks, with the process — the process required HTB’s team to respond quickly to evolving borrower requirements, including last-minute adjustments to the facility’s terms.
Commenting on the deal, Barry Ireland, BDM at HTB (pictured above), said: “This case presented several challenges, from the evolving nature of the borrower’s requirements to the tight timeframe as we approached the Christmas period.
“The borrower needed flexibility, including adjustments to sale proceeds and land annexation, which required the team to move swiftly and decisively.
Bob Hope, senior consultant at Complete FS, added: “HTB’s ability to deliver this deal within such a short timeframe - especially given the last-minute changes - was exceptional.
“Their collaborative approach and clear communication ensured the borrower was reassured and the deal could proceed smoothly. It’s always a pleasure working with a lender that understands the importance of flexibility and speed.”
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