Saxon Trust completes £768k development loan

By Bridging Loan Directory 22nd May 2024

Market leading specialist finance provider, Saxon Trust, has recently completed a £768,231 ground up development loan secured on a site in Caterham, Surrey.

Having part-funded the acquisition of the raised rear garden site, Saxon will be fully funding the construction and build costs of a contemporary detached 3-bedroom home which will be built to an exacting environmental standard.

The property will be of timber frame construction, single story, and with a design that incorporates a flat sedum roof enabling it to blend seamlessly into the local countryside.

The 3 bedrooms will all be large doubles and the internal finishes will be of a high specification with a bespoke, modern design.

The property will also benefit from two electric car charging points further enhancing its green credentials.

Located in the eastern part of Caterham, the Harestone Valley is a highly sought-after residential area known for its desirable tree lined residential roads, beautiful parks, and proximity to nature and the Surrey Hills area of outstanding natural beauty.

Caterham itself offers a wide selection local amenity, excellent road links to the M25 via the A22 which runs through the town, and fast rail links to London Victoria and Bridge stations.

It also boasts great schools and is of course known for being the home of British sports car makers, Caterham Cars.

Andrew Gardiner, Director at Saxon Trust commented:

“Having known the developer for a couple of years now we look forward to working with him on a somewhat smaller project than he usually undertakes, but one which will be completed within 12 months and allow him to continue working seamlessly on larger ground up and office to residential conversion projects locally in Surrey.”

Brian West, Head of Sales and Marketing at Saxon Trust added:

“Given the resource being deployed on this site to achieve a fast build time we have been happy to offer a loan over 12 months on a competitive fixed rate, as requested by the client, with just a 1% arrangement and a 1% exit fee.”