Collaborating For Success

Location: Kelsall, Cheshire
Broker: Direct
Developer: Adam Thwaites
Date: November 2016
Example of: Development Funding

Project:

To provide total development funding of 58% LTV at £657.5k against a GDV of £1.130m

Challenge:

An experienced client came to Amicus to secure funding on a plot with outline planning permission, to avoid losing his initial investment of £75,000. The case necessitated a flexible approach from Amicus, and to structure the local facility around the clients specific requirements.

Outcome:

The client was well known to Amicus with an excellent track record. Divisional Director Yasin Patel and case underwriter Angela Bushell collaborated closely with the quantity surveyor, the client and their solicitor to structure the deal into two phases: purchase and development. This prevented the client losing the land, and provided funds for the development once final planning permission had been secured. The team was on-hand throughout the development.

Angela Bushell and her colleagues in Manchester took the time to understand my cash flow situation and appreciate my specific needs in a way that I have not experienced before in the short-term funding sector.

Amicus are competitively priced in the short-term funding sector and they do what they say they're going to do - when you are Developer you need to have trust in your lender.

Amicus have a great team that a Developer can trust.

I have built a good working relationship with Amicus and I look forward to working with them again in the future.

Adam Thwaites, Property Developer