Saxon Trust, the specialist finance provider, has recently completed a £768,231 ground-up development loan for a site in Caterham, Surrey. The loan will fully fund the construction and build costs of a contemporary, detached three-bedroom home built to high environmental standards.
The property, located in the desirable Harestone Valley area of Caterham, will feature timber-frame construction, a single story design, and a flat sedum roof to blend seamlessly into the local countryside.
All three bedrooms will be spacious doubles, and the interior will be finished to a high specification with a bespoke, modern design. The home will also include two electric car charging points, enhancing its green credentials.
Caterham offers excellent local amenities, road links to the M25 via the A22, fast rail links to London Victoria and Bridge stations, and great schools. It is also known as the home of British sports car maker, Caterham Cars.
Andrew Gardiner, director at Saxon Trust, said: “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, 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.”
