Located in Berkshire, the loan has been structured on an 18-month term at a 70% loan to gross development value (LTGDV) with construction of these seven units commencing immediately.

The lender said this latest deal continued a good period of bridging and development completions since the start of the year.

Sales director at Oblix Capital, Andy Reid (pictured), said: “With numerous complexities surrounding the deal, both our sales and risk teams took the time out to sit down with the borrower and devise a facility that fully supports the needs and objectives of the project as a whole.”

“This has been a truly collaborative process and taking a common-sense approach to structuring these types of deals allows us to meet market demand for borrower’s needing fresh, flexible and agile property funding.”

Sponsored

Aldermore Insights with Jon Cooper: Edition 7 – Opening doors in a tougher first-time buyer market

Sponsored by Aldermore

Last month Oblix completed a £4m finance deal in Edinburgh, while in January it announced a £5m facility in Chelsea.