Xander Wealth is delighted to announce the successful completion of a £2,500,000 development finance facility for the construction of three executive homes in Dunton Basset, Leicester.

This deal was far from straightforward. The developer, an experienced building contractor, was embarking on his first project as a principal developer. In addition to the experience level, the transaction required a highly complex financial structure to make the scheme possible.

Key elements included:

• No Personal Guarantee (PG) Requirement – Unusually, the facility was agreed without the need for a PG from the borrower, a rare outcome in development finance.
• Deferred Vendor Payment – The site vendor agreed to accept only part of the purchase price upfront, deferring the balance until project completion, which provided additional flexibility to the developer, the vendor secured his equity by second legal charge.
• No Third-Party Valuation & QS Reports – Unlike most lenders who require independent valuations or QS reports, the lender was able to proceed without them. This was possible thanks to their in-house underwriting expertise, underpinned by their own development background and the use of private capital