This just proves that there is a solution if you just think outside the box…
Just recently a client came to us who wanted to build a detached property, had found the perfect location and had their build costs, end value and marketing all worked out, planning and everything ready to go. The only challenge they faced was funding!!!
They didn’t have the funds to purchase the land and only some money to put towards the actual build, and as we all know the high street banks aren’t lending the way they used to.
After speaking with the client and going into a bit more detail, we suggested that they agree with the vendor (who had been trying to sell the land for some time) to pay 50% of the land value day one and the remaining 50% on completion of the property.
The vendor agreed and we were able to help fund not only the 50% land value day one, but 100% of the build costs. The clients have since completed the property and paid the remaining 50% and the house is on the market now and the client’s look to make a nice profit.