Assetz Capital completes £2.73m development refinance for Midlothian scheme

Assetz Capital, the specialist in property lending, has completed a £2.73m development facility to support the refinance and completion of Dalmahoy Farm Villas, a part-complete residential scheme in Midlothian.

Located approximately 12 miles south west of Edinburgh city centre, the scheme comprises a mix of four and five-bedroom premium detached homes.

Set in a semi-rural setting with established road and rail connections into the city, the gated development features EV charging, solar panels, and has achieved an EPC A rating.

Having already completed four of the eight homes planned for the site, Assetz Capital worked with the developer to structure a flexible facility.

The result was an 18-month facility structured at 63.34% loan-to-value (LTV), assisting the borrower with refinancing an existing banking facility and supporting the completion of the development.

The funding included a c.£1.5m day one refinance against the existing site position, alongside c.£950k of development finance to complete a further three units.

Ciaran McGivern, Regional Director North at Assetz Capital, said:

“This facility reflects Assetz Capital’s focus on supporting well-designed residential schemes and providing practical funding solutions that keep delivery moving.

We’re pleased to be backing an experienced SME developer through the refinance of a part-complete site and into the final stages of construction, providing the flexibility needed.

This is all part of our commitment to supporting SME housebuilders right across the UK, ensuring high-quality homes come to market and supporting the development of local communities.”

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