Oblix Capital complete £5.5 million development finance loan
Specialist property lender, Oblix Capital has completed a £5.5 million development loan facility, marking a very active period as they amass over £15 million worth of completions in the month of March, concluding a great finish to the financial year.
Having acquired the land and gained prior planning approval, the 24-month loan was funded at 70% LTGDV, allowing the borrower to use the facility to begin the construction of 13 apartments situated on the Dorset coast.
Sales director at Oblix Capital, Andy Reid, pictured, commented:
“In an increasingly competitive marketplace, striving to ensure we can offer first-class specialist property finance that matches the ambitions of our borrowers is exactly what we do. This recent performance is testament to the model we have built here at Oblix Capital, leaving us perfectly placed for expansion and loan book growth for the rest of 2019 and into 2020.”
“Lender capabilities such as flexibility for the borrower, speed of execution and expert underwriting practices characterise the key drivers behind the industry’s growth. We at Oblix, have continually aligned ourselves to these same capabilities, acting as a catalyst for our own proposition improvements and growth!”