Skip to content

Full and flexible funding to enable a new scheme to progress, whilst existing schemes are not fully sold

A developer with 20 years' experience was introduced to us because his existing bankers were unwilling to provide sufficient further funding for a new site with planning consent for the erection of 8 four-bedroomed detached houses, whilst some existing developments were on the market for sale.

A series of individual bridging loans were offered on properties pending completion of sales, together with a development loan to clear the existing site loan facility with his clearing bank and to provide 100% of construction costs. This finance provided sufficient capacity to refinance the existing loan. As a result of our flexibility, we have won a new and valuable customer and have provided that customer with further time to sell completed units whilst enabling a start on site for the new development.

Loan: £2.5 million
Loan to value: 65%

Darego Capital Bank subscribes to the Banking Code and the Business Banking Code.

We are also a member of the Financial Services Compensation Scheme (FSCS) and are covered by the Financial Ombudsman Service.