The scheme comprises two homes with a combined market value of approximately £2.5m.
The 12-month facility refinanced the borrower’s existing development debt and associated exit fees, while also providing additional funds to settle final contractor and supplier invoices following completion.
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Mark Stephenson, senior BDM at Octane Capital, said it was immediately clear this was a good opportunity for the firm:
“There were a few hurdles around biodiversity net gain and planning, but Dan [Smith, senior mortgage and protection advisor at Hirschle Hughes] did a great job keeping everyone aligned and the process moving.
“When brokers stay close to a deal and keep communication flowing between all parties, it makes a real difference to getting transactions completed smoothly.”
Dan added: “It was a pleasure working with Octane Capital on this transaction — their decisive, solution-led approach gave the client real confidence and ensured a smooth and timely exit from development finance.”
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