Sirius originally worked for this client in 2021, completing a £15million development loan. They returned with a further funding requirement for this development of 36 luxury units within a Grade 2 listed mansion in rural Essex.
Initially the deal was placed with a lender that was able to get to the level of funding required, at a very late stage this lender withdrew leaving the clients in a precarious position.
Sirius were able to draw on a long established relationship with another lender to help them to fully understand ensuring they were comfortable with picking up the case at the point where the previous lender had left off. This included accepting the valuation report and the legal work that had already been undertaken, a significant time and cost saving for the client.
Sirius successfully secured a loan of £17.4million which covered off repayment of their existing debt and 100% of the budgeted construction costs, fees and with enough left in reserve for contingency funds.
Sirius Property Finance or Sirius is a trading style of Sirius Property Finance Group Limited (company number 10132820) registered in England and Wales. Our Financial Services Register number is 813945. The registered address is; The HUB, Unit 7 Lake Meadows Business Park, Woodbrook Crescent, Billericay, Essex, CM12 0EQ. Sirius Property Finance Group Limited is an Appointed Representative of Bright Star Financial Limited also trading as Brightstar Financial or Brightstar (company number 07462342) registered in England and Wales. The registered address is; The HUB, Unit 7 Lake Meadows Business Park, Woodbrook Crescent, Billericay, Essex, CM12 0EQ. Bright Star Financial Limited is authorised and regulated by the Financial Conduct Authority. Their Financial Services Register number is 712700. You can check the Financial Services Register by visiting the FCA's website www.fca.org.uk/register or by contacting the FCA on 0800 111 6768.