SEE HOW MAGNET CAPITAL CAN HELP YOU...
The Client’s Initial Challenge
When our client set out to build a 4-bedroom detached property, he was entering uncharted territory. Although he had a background in property, this was his first full-scale development project — a new build from the ground up, on land purchased from a family member.
As a first-time property developer with no prior experience in construction, he was introduced to Magnet Capital through a broker who, although new to development finance themselves, had heard we were known for guiding clients through their first project.
The Magnet Capital Approach
Understanding that both the client and broker were new to development finance, we took time to clearly explain every stage of the funding process — from what to expect during the legal phase, to how valuations are conducted, and how to manage staged drawdowns effectively. The client was given direct access to both a BDM and underwriter, ensuring open, responsive communication throughout.
In the end, we provided a total facility of £246,000, which included:
- 100% of the build costs covered
- 47% loan-to-GDV overall
- £55,000 released on Day 1
- Flexible support that allowed us to increase the Day 1 drawdown to suit the project needs
The Power of Partnership
The client delivered the build quickly and to a high standard, with the completed 4-bedroom family home now listed on the market. What’s more, he’s already preparing to begin his second development project, which we’re proud to be funding again.
If you're a first-time property developer looking for support with your project and require a strategic funding solution, contact us on 020 8075 3255 or hello@magnetcapital.co.uk.
"Magnet Capital were approachable, trustworthy, and always available. Having direct access to my own BDM and underwriter made a big difference – I felt supported the whole way."
