Creating an idyllic family home from shaky foundations

The prospect purchased a residential bungalow in a small idyllic village in the outskirts of Saltburn-by-the-sea which had structural issues due to the foundations being made up of shale which is common in the North East. The prospect was able to purchase the property at a low value due to this issue, they then obtained planning permission to extended and fit 2 large dormers in the roof space which would see the property convert from a 3 bedroom bungalow to a 5 bedroom modern family house.

The prospect is an experienced building and property developer and therefore there we are no issues when the building control signed off on the underpinning of the property. The prospect is 75% way through the development and required £80,000 to refinance the existing lender (who once again we are unable to assist due to their Covid-19 renewed credit policies) and finish the site.

We were able to put the facility in place within 3 weeks allowing the momentum of the development to continue, the site is expected to be completed within the next 4-6 weeks enable the client to put the property on the market for a family to make this a home for life.