Mackenzie Byrne and LendInvest complete £455k conversion loan

By Bridging Loan Directory 3rd June 2024

Development finance broker Mackenzie Byrne and lender LendInvest have completed a £455,000 loan to convert a disused barn near Benenden, Kent.

The 65% LTGDV loan, at 80% LTC, will cover the cost of works in full. The rest of the net facility went towards the acquisition of the site.

Mackenzie Byrne’s client, an early-career developer, will use the loan to convert the barn into a three-bedroom family home, surrounded by beautiful Kent countryside.

Joshua O’Leary, Director of Development and Structured Finance at Mackenzie Byrne, said:

‘It’s always satisfying to be able to help a client near the beginning of their career in property development.

I hope this proves to be the first of many deals we will do together.

Steve Larkin, Head of Development Finance at LendInvest, said:

“We have been working with Mackenzie Byrne for a number of years and are always happy to assist with deals of any size for them, as the quality of their business has always been first class”.