LDS supported the construction of 24 new-build apartments close to Hornchurch underground station, a project with a GDV of £9,750,000.
Working with United Trust Bank as the senior lender, the LDS Sales Guarantee – delivered in just over four weeks – released £780,000 to the developer.
George Logan, director of Laugan International Ltd, stated: “Throughout my interactions with the teams at LDS and UTB, Mark and Orla ensured I experienced a level of dedication and professionalism that truly sets them apart.
“This attentiveness made me feel valued as a customer and reinforced my confidence in their services.
“I was consistently impressed by their problem-solving skills. They took ownership of any issues that arose and worked diligently to find effective solutions, ensuring that I was fully satisfied with the outcome.”
Speaking on behalf of United Trust Bank, Orla Costello, Senior Director – Property Development, said of this first deal with LDS:
“There are various ways developers can capitalise a project and Sales Guarantees are another great tool in the financing toolkit, helping housebuilders access the funding they need whilst retaining more of their cash.
“With several more potential opportunities being discussed, we are certain this will be the first of many successful collaborations between UTB and LDS with their innovative offering.”
Ashley Marks, head of real estate at Excellion Capital, said: “This is an excellent example of expanding a developer’s capacity, while completing swiftly on the deal at hand – made possible through great partnership between UTB and LDS’s unique offering.”
Mark Roberts, LDS Relationship Director, commented: “We were pleased to be able to assist with this site purchase for an experienced developer through the deposit release, whilst reducing the risk via the Sales Guarantee.”
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