CASE STUDY: Auction Deposit Finance

Today we have completed on an auction deposit finance deal. Our client successfully bid £435k at auction for a piece of land with outline planning for residential properties and our lender provided the 10% deposit on the day and will also provide 100% funding of the balance required utilising existing security. When the outline planning permission is changed to full planning permission the lender will provide 100% development finance.

We will keep you posted on how this development goes…