One of the biggest advantages of using a highly experienced short-term property finance provider is the flexibility they provide. Even on projects that are midway through or into the latter stages of development, they are still able to provide much-needed support to ensure a smooth delivery.

Demonstrating this level of flexibility and willingness stems from a client-centric commitment, whereby the terms of a deal are structured specifically to suit a developer’s unique needs. In some cases, this means getting involved late on and providing funds that will help achieve completion.

This kind of support was recently put on full display as Signature supported a Yorkshire-based developer with an ongoing development that was only three months away from being finished. The client had personally invested over £250,000 up until this point and they were keen to secure a development loan to help push them over the finish line.

As such, a short-term loan of £312,111 was requested – funds that would allow them to finish the works and cover the costs of any professional services. Given that the development was into its final phase, it was vital that a deal was agreed quickly so that strict deadlines could be met.

Located in a popular area of Yorkshire with access to strong transport links and a wide range of amenities, the four-bedroom property was expected to drive significant demand once completed. Based on an independent surveyor’s comparative analysis of similar properties in the nearby area, the GDV was estimated to be in the region of £730,000 from its £310,000 valuation at the time of inspection.

With this in mind, the vision for the project was clear to see – it would help address the UK’s well-documented housing crisis through the delivery of a modern home, whilst netting the client an important profit to enhance their existing portfolio. As such, Signature wasted no time in conducting the necessary background and credit checks to ensure it could be delivered as promised.

Having successfully delivered similar projects in the past, Signature’s experienced in-house team deemed this to be a low risk investment and agreed to provide the requested loan on a 15-month term. This would give the client more than enough time to complete the works, before following the proposed exit strategy to market and sell the property.

This deal was yet another example of Signature’s ability to recognise a project’s full potential and move quickly to ensure the required support was in place, without causing any unwanted disruptions to proceedings.

Scott McClymont, Relationship Manager at Signature Property Finance said:

“In our industry, supporting clients is not just about providing funds before a tool has been lifted, as there are many instances where our help is required midway through.

“This has no bearing on the decision we make – what’s important is that we can see a clear vision for the project and the client has the means to execute the plan as outlined. This was certainly the case here and the main reason why we felt it was a perfect opportunity to offer our support.

“Of course, Signature has built a strong reputation for its client-centric approach over the years and I think this gives a lot of developers the confidence to approach us at any stage in the process. We understand the pressure that many are under, especially at the business end of a project, so it gives us great satisfaction to help out wherever we can.

“Hopefully this project marks the beginning of a long and successful relationship together and I’m very much looking forward to seeing what the future holds.”

The developer added:

“Signature has done an excellent job of stepping forward at a critical time and providing the support that has ultimately allowed us to complete an important project.

“Whilst we never doubted their ability to get the deal done, we have been thoroughly impressed by the professionalism and efficiency shown throughout as it’s made our lives a lot easier during what could have been a stressful period.

“On that basis, we would highly recommend their services to any other developer that is in a similar position and requires immediate financial support.”