2 hours to raise £3million

FROM RECEIVERSHIP TO DEVELOPMENT: SPEED WAS THE DIFFERENCE

Always Wright Mortgages | The King Of Complex

THE BRIEF

The client identified a development site being sold through receivership and wanted to acquire the opportunity.

There was one major challenge: time.

She called Always Wright Mortgages at 10:30am, explaining that she needed finance terms within just two hours so she could confidently bid for the site.

This wasn't a deal where we had weeks to approach lenders. We needed to move immediately.

THE PROBLEM

The site came with complications.

The previous developer had gone into liquidation, while foundations had already been constructed.

This created additional concerns around the existing works, the development's viability and whether a lender would be comfortable taking on the project.

The client needed a lender who could understand the circumstances and look beyond the obvious challenges.

THE OBSTACLE

This wasn't a conventional property purchase.

It was a development opportunity with existing construction works, a failed previous developer and a requirement for further funding to complete the project.

The biggest obstacle was finding a lender prepared to understand the opportunity and move quickly enough for the client to bid.

THE STRATEGY

We immediately mobilised our specialist lender network.

Rather than putting the case through a standard process, we approached lenders experienced in complex development finance and presented the full circumstances of the deal.

The objective was simple:

Find the right lender, secure the initial funding and create a structure that would carry the project through to completion.

THE STRUCTURE

We secured a lender prepared to provide 60% funding from day one, despite the existing foundations and the previous developer entering liquidation.

The client then used private finance to raise the remaining funds required.

The development was structured over an 18-month term, giving the client the time needed to complete the works, build the units and deliver the finished project.

THE EXECUTION

Speed was critical.

The client called at 10:30am needing terms within two hours.

We immediately went to our lender network and began presenting the opportunity to suitable funding partners.

The lender moved quickly and was able to provide terms within two days, giving the client the confidence and funding pathway required to proceed.

THE OUTCOME

The client was able to move forward with the acquisition and secure a funding structure designed around the development.

Despite the previous developer's liquidation and the partially completed foundations, we secured 60% day-one funding, with private finance making up the balance.

The project was then structured over 18 months to allow the client to complete the development.

This case demonstrates why complex finance isn't simply about finding the lowest rate.

It's about speed, relationships, experience and structure.

When an opportunity has a tight deadline, access to the right lender can be the difference between winning the deal and losing it.

At Always Wright Mortgages, we specialise in finding solutions where conventional finance doesn't fit.

Complex deal? Challenging circumstances? Tight deadline?

Bring us the problem. We'll find the structure.

ALWAYS WRIGHT MORTGAGES

THE KING OF COMPLEX.