Avamore Capital has announced that it has completed a £626k development loan at 70% LTGDV, supporting a broker-led transaction that required detailed structuring and close coordination between all parties.
Relationship manager George Ormerod oversaw the deal and worked with the broker to align the borrower’s expectations with figures provided by the valuer and monitoring surveyor. Early discussions focused on ensuring the facility remained commercially workable while meeting risk requirements.
The structure aimed to give the borrower sufficient funding headroom without exposing the lender to unnecessary risk. Throughout the process, Avamore maintained regular communication with the broker, borrower, and professional advisers to keep the transaction moving forward.
However, the deal encountered delays linked to restrictions on the property title. A licence had to be secured before funds could be released. Avamore worked with the broker and borrower to resolve the issue and avoid further disruption to the development timetable.
Key challenges addressed during the transaction included:
aligning valuation and monitoring surveyor figures with borrower expectations
navigating title restrictions that delayed drawdown
maintaining a funding structure that balanced commercial needs with risk controls
Ed Blundell, head of underwriting at Avamore Capital (pictured), led the structuring of the facility and managed the underwriting process. He has more than six years of experience in development and bridging finance.
“Development finance often requires flexibility and collaboration,” said Blundell, head of underwriting. “By working closely with the broker and borrower, we were able to structure a solution that addressed valuation challenges and title restrictions while maintaining strong underwriting discipline.”
Please visit:
Our Sponsor
