Reference
4386

Location
Luton

Loan to Value
48%

Gross Loan
£894,163

Loan Term
1 year

Our clients approached Octane needing to refinance a development site in Luton with approved planning permission for residential in close proximity to transport links.

The client was in negotiations with a buyer however they needed funds to secure another site ahead of the completion of the transaction.

Due to the low LTV and the borrowers' experience with these types of transactions, Octane was able to get comfortable in releasing most of the cash the borrowers had injected into the purchase of the property.

Octane provided a 12 month retained bridge enabling them to move ahead with their plans.

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