BridgingfeaturedNews

Bridge Invest completes £870,000 loan

Bridge Invest has completed on a £870,000 loan against a park home site in Lymm, Cheshire, valued at £1.8m.

This loan was used to extend the borrower’s sale period, allowing them time to market the properties.

The park home estate comprises of a development of 13 modular park homes developed on a brown field site.

Ronak Ruparell (pictured) chief executive and co-founder at Bridge invest, said: “The beauty of this loan is that 80% of the sale proceeds from the properties will be used to pay down the loan, effectively lowering the LTV throughout the course of the loan – having actually had a sale complete on day one.”

“At Bridge Invest we do not shy away from modern construction practices, especially when the sales give clear evidence of demand.”

 

Show Comments

Enter your e-mail address to receive updates straight to your inbox