Magnet Capital funds Adenfield Way, a new build of 2 x 4 bed detached bungalows.
Magnet Capital provided a facility of £250,000 to our client to construct 2 x 4 bedroom detached bungalows in Rhoose, South Wales. On top of the initial loan amount, we also provided two separate loan extensions on the client’s term to offer flexibility and offload stress. We were also able to offer a part redemption for our client and allow them to continue with the project having peace of mind that funds were in place. Flexibility was paramount in this deal and Magnet Capital delivered in offering part redemptions and extensions over the phone.
Sam Howard commented: Flexibility can make or break deals like this which is why we pride ourselves on maintaining relationships with our clients and providing solutions that can take stress away from the borrower to ensure the quality of build is always at its highest.”
Both bungalows have now been sold and the introducing broker on the deal simply noted, “Magnet Delivers”.