London based specialist property lender Oblix Capital has completed a £2.04 million development loan, helping fund the construction of 12 new-build apartments, in the southern town of Haywards Heath.
The loan itself was agreed on a 17-month term at an LTGDV of 63%, giving the developer the optimum amount of time to construct and sell all 12 apartments.
This completion follows on from a consistent growth period for the lender having received nearly £50million of applications in August - surpassing all previous monthly application records.
Andy Reid, Sales Director at Oblix Capital said:
“This latest completion typifies a very successful growth period for the company. We’ve been meeting the market demand with property finance that is equally agile yet reliable - forging some fantastic relationships with brokers and developers alike. A big thank you goes out to the exceptional team here at Oblix Capital, who have all been tirelessly pulling together and taking the business to new heights.”