London Credit supports £4 million development with tailored refinance and build loan

London Credit has completed a development finance facility to support the conversion of a former commercial block into six residential units and one commercial unit in South West London.

The mixed use scheme had a total Gross Development Value (GDV) of approximately £4 million and the borrower, an experienced developer, approached London Credit to refinance an existing loan and secure funding for the next stage of the build. Having previously worked with the lender, the client chose to return to London Credit based on its practical approach and track record of supporting complex development projects.

London Credit structured a facility at 70% loan-to-value (LTV) to refinance the existing lender, alongside funding up to 90% of project costs, capped at 70% LTGDV. The bespoke funding package was designed to cover initial planning, ongoing build works, and site-specific challenges.

London Credit’s team visited the site, met directly with the borrower, and worked with their legal and professional teams to ensure an efficient and transparent onboarding process. London Credit said that with swift valuations, prompt decision-making, and collaborative problem-solving, the project remained on track and within agreed timescales.

Marios Theophanous, Credit Manager at London Credit, commented:

“This was a strong, well-thought-out scheme with a developer we already knew and trusted. They came to us for a funding solution that matched their pace and ambition, and we were able to deliver exactly that.

“The project had a number of moving parts, so clear communication and a hands-on approach were paramount. By spending time on-site and working closely with the borrower, we helped ensure the right decisions were made early on, keeping the build progressing effectively."