LDS collaborated with senior lender West One to facilitate the conversion of an existing building into eight new homes.
About the developer
The experienced developer-contractor team required a fast completion to take advantage of this opportunity, and LDS stepped up to provide a Sales Guarantee in under two weeks, which included a 10% cash release to allow the client to stretch their equity and purchase a second site.
The developer, introduced to LDS by Richard Pickering at B&P Finance Consultants, stated that the security of the Sales Guarantee provided peace of mind. “We were delighted to be able to work with LDS Sales Guarantees. The funding day one allowed us to reduce our cash requirement and the additional security of the Sales Guarantee was a crucial element in our thinking.”
LDS
Chris Fortune LDS Relationship Director said: “It was a pleasure working with all parties to get this residential project completed on time. It was an excellent example of the developers using our deposit monies to reduce their cash requirement day one. The developers had recently secured another site for a future scheme and didn’t want to miss the opportunity of developing this one.”
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