Signature has built a strong reputation for supporting clients with varying levels of experience, from some of the most accomplished and seasoned firms to independent developers at the beginning of their respective journeys.  

No matter the size or scope of the project, Signature’s experience and expertise gives them the confidence to support developers through the provision of much-needed loans, working to address the UK’s housing crisis one scheme at a time.  

This was recently seen as a relatively new developer approached the business for financial support with a ‘tart & turn’ project – the first of many they planned to undertake over the next three years.  

The Manchester-based target property was a spacious three-bedroom, semi-detached house with a large garden and outbuildings. Whilst it required a thorough refurbishment, its £140,000 agreed purchase price meant there was a great opportunity for the developer to make a comfortable profit upon completion of the works.  

To secure the property and proceed with the planned renovations, the client required a gross loan of £84,494, which Signature were happy to provide once the necessary background and credit checks were completed.  

Once acquired, the client planned to fully refurbish the property using their own funds, undertaking some of the work themselves and hiring tradespeople to complete the required plumbing/electrics.  

Given that renovations were estimated to take 3-4 months, a 12-month loan term was deemed sufficient time for the developer to finish the work, market the property and find a suitable buyer.  

Located in an area where there is a high demand for letting, the property is expected to secure a sale price of around £210k-£230k once marketed, resulting in a healthy profit for the client and an important boost for residents seeking affordable housing.  

Bob Stones, Relationship Manager at Signature, commented: “More important than the experience of a developer is the vision they have for the project in mind, as this will ultimately determine its success. 

“In this case, the vision was clear to see as was the passion and commitment the client had for the development, as they explained this was to be the first of many projects to come.   

“As such, our support was vital in ensuring the strict time and budget requirements were met, so our experienced team worked tirelessly to agree a deal on terms that suited all parties, allowing enough time for the proposed exit route to be followed.  

“We hope that this collaboration will be the first of many with this developer and we’re excited to see the final results once the work has been completed.” 

The developer added: “Throughout the entire process, the Signature team have been supportive and worked efficiently to agree a loan that means we can push forward and honour the project deadlines outlined in the proposal.  

“Their attention to detail and commitment to finding a feasible solution has been very refreshing and we’d highly recommend their services to other developers in need of support.”