Saxon Trust has recently completed a £768,231 ground-up development loan secured on a site in Caterham, Surrey.
Having part-funded the acquisition of the raised rear garden site, the specialist provider will be fully funding the construction and build costs of a contemporary detached three-bedroom home.
The property will be of timber frame construction, single story, and with a design that incorporates a flat sedum roof enabling it to blend into the local countryside. The three bedrooms will all be large doubles and the internal finishes will be of a high specification with a bespoke, modern design. The property will also feature two electric car charging points.
Located in the eastern part of Caterham, the Harestone Valley is a sought-after residential area known for its tree lined residential roads, parks, and proximity to the Surrey Hills area.
Andrew Gardiner, Director at Saxon trust commented: “Having known the developer for a couple of years now we look forward to working with him on a somewhat smaller project than he usually undertakes, but one which will be completed within 12 months and allow him to continue working seamlessly on larger ground up and office to residential conversion projects locally in Surrey.”
Brian West (pictured), head of sales and marketing at Saxon Trust, added: “Given the resource being deployed on this site to achieve a fast build time we have been happy to offer a loan over 12 months on a competitive fixed rate, as requested by the client, with just a 1% arrangement and a 1% exit fee.”