At specialist development finance lender, Blend Network, the team prides itself on being by their client’s side, assisting them with borrowing funds for their initiatives. Even at the heights of the COVID-19 crisis, the team reports that they continued lending and deploying capital into projects where the numbers “stacked up” and where the borrower had the experience “to bring along the project.”
As noted in a blog post by Blend Network, here is a look at recent projects they’ve funded:
A £960,000 lending facility to develop 7 new houses in Dudley
- On 28 January, they funded the second tranche loan of “a £1,600,000 GDV scheme in the large market town of Dudley, approximately 11 miles to the northwest of Birmingham in the West Midlands.” The first tranche of this loan was “funded in August last year.” The team behind this scheme is “formed of two experience property developers, one of whom is a construction professional with over 35 years’ experience and a track record of developing projects worth £18m to date, and the other one is a senior quantity surveyor with a track record of project contracts and commercial management.” Find out more about this project here.”
A £1,000,000 facility to develop a property in Clevedon into 4 semi-detached houses
- On 27 January, Blend Network “funded the first tranche loan of a £1,680,000 GDV scheme in Clevedon, North Somerset.” The team behind this project is “formed of 5 individuals with a breadth of experience across the financial services, construction and property development industries, with some of the members being established landlords with an extensive property portfolio.” Find out more about this project here.
A £2,510,000 facility to build 19 new houses in Sunderland
- On 26 January, the firm’s platform “funded the second tranche loan of a £4,181,000 GDV scheme in Sunderland.” The purpose of this loan is “to build 19 houses comprising a mixture of three-, four- and five-bedroom homes.” The first tranche of this loan was “funded in May last year.” The borrower behind this scheme is “an experienced landlord with extensive experience in renovating commercial and residential properties.”
A £2,600,000 facility to acquire and refurbish properties in Gloucester
- On 21 January, Blend Network “funded the fourth tranche loan of a £4,600,000 GDV scheme in Gloucester.” This was one of the projects that featured in their “landmark projects of 2021.” The property developer behind this project is “a regular borrower with Blend Network, having previously borrowed from us for a scheme to convert a care home into 12 apartments in Cheltenham.” The first, second and third tranches of this loan were “funded in March, July and October last year.”
You may review all projects funded by Blend Network by visiting their official website.
If you’re a broker or a property developer and have a project that requires capital, then you may contact the team.
BLEND Loan Network Limited is authorized and regulated by the UK’s Financial Conduct Authority.
