Aureum Finance has sourced funding at 96% LTV for the purchase of a vacant commercial premises in Chelmsford.
Our client is submitting a planning application to convert the office space and floors above into residential units. When the time comes we will replace the existing loan with development funding at 100% LTC.
This case certainly had its challenges but we are elated to have achieved such a high level of gearing and cannot wait to move on to the next phase of the scheme!