Signature Property Finance has completed a £383,739 development loan to support the construction of a three-bedroom detached house near Braunton, North Devon, backing an experienced carpenter and Structural Insulated Panel [SIPS] specialist with over 25 years in the construction industry.
Introduced by Patrick Robertson of BuildLoan, leading specialist distributor in the self-build sector, the transaction highlights Signature’s willingness to support self-build projects led by borrowers with specialist technical expertise and proven construction experience.
Backing specialist construction knowledge
The borrower is a qualified site carpenter with extensive experience in residential construction, having previously run a SIPS consultancy and completed two SIPS-based projects. With over two decades working across UK and international markets, including a five-year tenure as a carpentry foreman, the borrower is well-suited to this development.
The company has already purchased the land using its own funds and requires financing for the construction phase only. Signature’s facility is set at 55% loan-to-GDV and 80% loan-to-cost against a gross development value of £700,000, providing 100% funding of the build costs via staged drawdowns as works progress.
The 18-month term allows for construction and subsequent sale, with an estimated build period of six to seven months, leaving ample time for marketing the completed property.
Energy-efficient coastal property
The property will be constructed using structural insulated panels, a method recognised and accepted by mainstream mortgage lenders. It will feature high-specification finishes including triple-glazed aluminium windows, underfloor heating, and integrated solar panels with battery storage.
Located on the edge of Braunton, the site benefits from its proximity to Saunton Sands beach and Braunton Burrows, both a five-minute drive away. The area appeals to buyers seeking coastal living with easy access to outdoor activities, while remaining connected to Barnstaple, approximately six miles away.
The £700,000 valuation reflects the property’s specification, partial sea views and modern energy-efficient design. The valuer notes good demand for this type of property in the area, with an expected marketing period of around nine months once complete.
Sale-focused exit with extended timeframe
The primary exit is a sale on the open market following practical completion. With the predicted construction time and an 18-month loan term, there is comfortable time built in for both delivery and marketing.
The borrower’s background in SIPS construction reduces delivery risk, while the project benefits from professional input including appointed architects, planning consultants and structural engineers. A structural warranty provider has been engaged to provide additional assurance on the completed development.
Patrick Robertson of BuildLoan commented: “This borrower’s experience in SIPS construction made all the difference. Josh and the team at Signature recognised the technical skill straightaway, which counts for a lot when you’re self-building.
“North Devon continues to attract buyers looking for quality coastal properties, and this development ticks all the boxes – modern specification, energy efficiency and a great location for those seeking a life by the sea. By Signature funding 100% of the build costs in staged drawdowns, it gave our client the flexibility needed to manage this project effectively.”
Josh Barrett, Relationship Manager at Signature Property Finance, said: “What stood out above all was the borrower’s practical construction knowledge. He isn’t delegating everything to a main contractor – he’s got 25 years of hands-on experience and has successfully built with SIPS before.
“The North Devon coast has strong appeal for buyers, particularly properties close to beaches like Saunton Sands. A high-spec new build in this location should attract interest, and we’ve structured the loan term to give plenty of runway for completion and sale.
“Self-build projects require lenders to have confidence in the borrower’s ability to deliver, and Patrick’s well-structured proposal made the decision straightforward. We’re keen to see this one come together and are already anticipating future opportunities.”