Magnet Capital are delighted to see the completion of two detached houses in Shrewsbury with a repeat borrower.
A £500,000 facility was utilised by the borrower for the acquisition and the cost of construction for these two five bed houses.
The clients were supported throughout the first Covid-19 lockdown to ensure that the project could be completed in sufficient time. Magnet Capital lent the client 50% of purchase price and 100% of the build costs. Lloyds Bank originally offered to fund the project however the client opted for a fast and flexible lender that could provide a flexible development finance service.