Its strong reputation as a reliable and experienced short-term property finance provider has enabled Signature Property Finance to attract the attention of renowned property developers with extensive portfolios and big ambitions.

Given their flexibility and dedication to agreeing deals on mutually beneficial terms, Signature has become a popular choice for developers that are overseeing largescale projects with strict time and budget requirements.

This was recently demonstrated as an experienced client, with a proven track record of delivering sizable developments, approached Signature for funding on a six-plot residential scheme that was halfway to being completed.

The client commenced work using their own cash, and with two properties completed and nearing sign off, they required development finance to finish the remaining plots, with a GDV estimation of around £5-£6 million for the combined sale of all six properties.

During discussions with the client, Signature offered an alternative funding structure to a residential development package. The client had a portfolio of four unencumbered residential and commercial investment properties, and Signature proposed to provide the client with a Revolving Credit Facility (RCF) of £700,000 NET, which would be used to fund the remaining works, secured by legal charges over the investment property portfolio.

The securities, which were in Brighton, would provide adequate cover for a gross loan of £808,000 through the RCF approach, allowing the client to proceed with flexibility.

Before the deal could be confirmed, Signature carried out all the necessary background and credit checks to ensure the developer had the means to oversee the project and follow the proposed exit route. As part of this strategy, the client agreed to draw down funds as required and repay the RCF line from the eventual sale of the developed properties.

For both parties, this was the preferred outcome as opposed to offering finance on a half-completed site, and given the developer’s extensive portfolio and prior experience, it was deemed to be a safe project with a clear and achievable strategy.

Bob Stones, Relationship Manager at Signature Property Finance, commented:

“Signature’s unwavering commitment to improving the UK’s housing crisis means we are willing to do whatever it takes to help clients bring their projects to life.

Our in-depth knowledge of the property market means there is no project too big or complex – we have the resources needed to provide significant loans, without the risk of unnecessary delays causing opportunities to be lost.

Of course, the process is made even easier when highly experienced developers are approaching you for support – their track record speaks for itself and there’s a lot of confidence in their ability to stick to the proposed exit strategy.

As such, we are more than happy to be supporting the developer throughout this process and we are confident that the final results will exceed expectations.”

The developer added:

“To ensure a project of this size is delivered within the strict time and budget requirements outlined, it is vital that we have the backing of a highly experienced property finance provider that understands the unique pressures attached to largescale developments.

Fortunately, Signature ticked all the boxes in that respect, as their professionalism and efficiency has allowed us to secure a flexible solution so that we can complete the remainder of the project as planned.

With that in mind, we would definitely recommend their services to any other developer looking for property finance.”