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Extended completion times have regularly been experienced across the specialist finance and commercial market; however, Omega has completed a development facility for our client in just 19 days, showing that where all parties are aligned, a quick completion is still achievable.

Development & Refurbishment Case Study:

The client achieved planning permission for the erection of a detached two-storey dwelling, demolishing the existing garage, and undertaking further refurbishment work on the existing property. The applicants had outstanding debt on the property and had already started some of the groundwork. Omega structured the facility to refinance the existing outstanding debt and for a further tranche to support the next phase of works, with additional funds drawn against the planned build program.

Existing property valued at £550,000

The Gross Development Value of the completed two property scheme: £1,175,000

We were able to present the deal to the lender inclusive of required evidence of site inspections, building regulation approvals and valid supporting warranties. We worked to fully understand and then demonstrate prior related client and contractor experience and a robust plan for the completion of the proposed works to split the title and onward sale.

Mark Jones from Omega said

“It shows what can be achieved when all parties involved have a shared goal to complete by a desired timescale and work cohesively to achieve this”

James from Omega commented “I’m really happy we were able to deliver for our client, obtaining the funds needed to progress and complete their development, and achieved this within their required deadline. Our thanks to the lender who was fantastic in responding to queries and collectively we managed the necessary progress to completion”