A family touch for an investment property

The prospect had purchased a piece of land in rural Calderdale, planning permission to build five large detached properties. Our client developed the properties over 18 months in this picturesque setting which created five beautiful family homes; 4 of the properties had in turn been sold. The prospect became engrained in the development and therefore wanted to keep the final property as a BTL investment property he could put into his portfolio.

The client required a facility of £285,000 to purchase his development business and release the existing balancing charge from the current development funder. The prospect wanted a quick and easy process to take advantage of the stamp duty holiday that was coming to an end in March. The prospect was known to Momentum and therefore trusted us to get the deal completed fuss-free and in the time frames required.

We took a charge over the property, repaid the existing balancing lender and have a pleased client that has retained a property that is close to his heart. The client was impressed without our speed, experience, and ability to engage Momentum in his next property purchase.