Blackfinch Property has completed a £1.8m, 18-month development loan to support the construction of two, three-bedroom homes in Balham, southwest London.

The scheme will deliver two new-build homes in one of London’s most desirable residential areas. The homes are to be constructed with energy efficiency built into the plans from the outset. They are designed to use less energy, retain heat more effectively and provide a high level of comfort for future owners.

The site is a backland infill scheme, meaning the homes will be built on land set behind existing properties, rather than on a traditional street-facing plot. This made careful planning and consideration for neighbouring homes especially important.

Blackfinch Property structured the funding to support both the site acquisition and the costs already incurred in getting the project to this point. By taking the time to understand the detail of the scheme, the Blackfinch team was able to adapt the loan around the borrower’s needs and support the transaction through a flexible lending structure.

Timing was also critical. The borrowers had a completion deadline that needed to be met to secure the opportunity, and Blackfinch Property worked closely with the broker, borrower and wider professional team to deliver within the required timeframe.

Phil Dart, Investment Director at Blackfinch Property, said: “We’re delighted to have supported the delivery of high-quality new homes in Balham, particularly a scheme with such a strong focus on energy efficiency and the surrounding environment. In a challenging market, structuring development finance that works for all parties requires collaboration, diligence and a clear understanding of the project.  

“The borrowers were exemplary throughout the process, and by working closely with the broker we were able to deliver a tailored funding solution that supported a timely completion.”

By taking the time to understand the detail, Blackfinch Property was able work closely with the borrower to keep momentum, while still maintaining the due diligence needed to support a well-structured loan. The result is a tailored funding solution that helped secure a time-sensitive acquisition and unlock the next stage of an exciting development.