Bridging Finance Solutions supports £1m eco-build with latest bridging finance deal
Bridging Finance Solutions is supporting an ambitious eco build with its latest bridging finance deal.
Gaining national televised coverage through its green credentials, the new build in East harling, Norfolk, is being project managed by a working mum of three, alongside her builder husband who together began work at the half acre site three and a half years ago.
A two-storey build, the property will be built to passive house standards, requiring virtually zero energy to operate once complete, which is set to be featured on channel 4’s ‘Building the Dream’. Extending to approximately 315 metres square, BFS has lent the client £180,000 in total, part of which will be used to complete the build and the remainder to pay off debts accumulated during the build.
Becky Darlington, Business Development Manager at BFS explained:
“The client had been let down by another lender who had guaranteed funds, however, following three months of negotiations, the deal hadn’t been completed and she decided to work with a bridging lender.
“This is a fantastic and aspirational build and the figures undoubtedly stack up, therefore it’s a project we’re very happy to support. Upon completion we anticipate the property to be valued at £1million with the loan re-payed in full ideally within six months.”
Currently, the owners are living in a caravan on site with their young children, dogs and cats, whilst mum works nights as a carer, home-schooling the children during the day whilst also managing an online business.
“There is a fantastic story behind this deal and we’re delighted to be able to throw our weight behind these clients and look forward to working with them as the build progresses.”