Assetz Capital, a peer-to-peer lending platform for secured loans, says it has provided a £1.3 million loan to Amor Homes Ltd to complete its luxury development in Cheshire.
Assetz Capital states that having built four luxurious homes in South Cheshire the developers are now exiting the development facility via the £1.3 million bridging loan.
According to the company, the building schedule was initially disrupted at the start of the pandemic. But now, the project is providing high-quality family homes in a rural setting, with transport links to the M6 and M56. Two of the homes are already sold and there has been significant interest in the remaining properties.
The bridging loan will repay the remaining balance of the previous development loan and allow Amor Homes to finalise the sale of the other properties.
Colin Doyle, Relationship Director at Assetz Capital, commented:
“Amor Homes has been a pleasure to work with, and it’s great to see the homes now being sold and families moving in. At Assetz, we aim to keep tackling the housing crisis in the UK, so seeing schemes like this through to completion is essential to meet the demand.”
Owner of Amor Homes, Dave Bracegirdle, said the diverse lending proposition that Assetz provided had been incredibly useful for the company.
Assetz Capital offers smaller investors the ability to generate interest income of around 4.1%.
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