Avamore Capital

Avamore supports construction of west London homes



Avamore Capital has completed a development loan of around £600,000 to support the construction of two new homes in Hounslow, west London.

The bridging and development lender was introduced by an existing repeat borrower.

The funds were required for the construction of two new semi-detached homes.

The borrower was a self-builder, who had previously worked closely with the introducer.

The site was located in western Hounslow, near Heathrow airport, and was close to local facilities and transport links to London.

The homes are targeted at young families in the local area.

The properties qualify for the Help to Buy scheme and can be refinanced on to a buy-to-let mortgage or an exit bridge should the sale of the properties be slow.

“We are a relationship-driven lender and so we are delighted to have closed a deal introduced by an existing repeat borrower,” said Amit Majithia, principal at Avamore Capital (pictured above).

“We will always work hard to understand the needs of the customer and it is a huge compliment that someone who has worked with us first-hand trusts us to lend within their personal network.

“As we grow as a business, we will always ensure that the customer feels connected and informed throughout the entire process.

“That is our niche, we don’t just offer great service, we build genuine relationships and see borrowers and brokers as our partners.”

The introducer added: “It’s been great to work with Avamore once again and to have collaborated with them in a different capacity.

“They have proven themselves to be an exceptional lender and I have no doubt that they will deliver on this project in the same way that they have done for me on my previous schemes.”

The valuer of the property was Kempton Carr Croft with TWM Solicitors acting on behalf of Avamore and Russell Cook LLP representing the borrower.

The monitoring surveyor was Bond Davidson.

 


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