UTB debt raised for JV between Landowner & Developer in Weybridge
Carbon finished 2016 off with a drawdown on the final working day of the year, for a 3 house project in Weybridge, Surrey.
The project, funded by United Trust Bank, is a joint venture between a Landowner and Baehr Design & Development. Director of Baehr, John Bridges, explained ‘We had been encountering some challenges funding this exciting scheme when we were introduced to Carbon. They quickly understood the complexities of the project which, along with their excellent local knowledge of the market, saw them immediately identify UTB as our ideal Funding partner. Both Carbon and UTB then provided a quick and seamless process to credit sanction’
Stuart Bradney, of Carbon, commented ‘It has been a pleasure to work with Baehr and UTB on this case. UTB were particularly supportive whilst the Borrowers worked through some conflicting tax advice which may have seen other Lenders impose additional costs. We are sure that the Bank will be impressed by Baehr’s handling of the construction and that this will prove to be the first deal of many that we work on together’