Property: 30 The Causeway, Staines

Purchase price: £5,400,000

VAT facility: £1,080,000

Loan term: 90 days

Completion date: 5^th October 2023

BloomSmith has recently completed a £1,080,000 VAT bridging loan on the purchase of a plot of land by the property developer Stonegate Homes.

The freehold site in Staines-upon-Thames is situated near both the town centre and the train station and has been described as ideal for comprehensive redevelopment.

On completion of the loan, Stonegate Homes finance director Dominic Haworth said: “Working with BloomSmith has enabled us to reduce the cashflow impact of our purchase’s VAT obligation, allowing us to allocate those funds to where they can make the biggest impact.

“The borrowing process was smooth and the BloomSmith team have been helpful and communicative throughout.”

BloomSmith CEO Nigel Smith said: “It was a pleasure to work on this deal with the expert Stonegate Homes team and we hope to work with them again in the future.”

If you would like to learn more about how our VAT bridging can work for you then contact our team today.

You can also see if you qualify for a loan via our VAT Bridging Loan Eligibility Checker.