Loan #1629838 Woore Crewe CW3 9RJ United Kingdom - Plot 3 - 2/3
Bluetouch Ventures is financing the second phase of their new development in Woore, Shropshire, the first stage having been completed under budget and on schedule. The property has been valued by Savills and Baker Wynn Wilson at a GDV of £1,125,000 (€1,293,750) and is expected to sell off-plan during construction.
The development consists of 4 plots with full planning permission for five-bedroom, executive detached homes, with 3 plots sold in 2022. The construction phase has been split into three stages for this project. The first stage was the site setup, preparation, drainage and groundworks. They are now underway with the second phase of construction which consists of the construction of the superstructure with bricklayers on site laying blockwork in preparation for the timber frame, scheduled for delivery in early February. This will be followed by roof installation and brickwork. The final phase of construction will involve all internal works and landscaping.
There are some excellent new build comparables in the area that are pricing well, with a new build development selling in December for £1,050,000 and another smaller new-build property going on the market at £1,300,000 nearby (2km) (update 23-01-2023: the sale has been agreed at this asking price) . The property valued by Savills and Baker Wynn Wilson at a GDV of £1,125,000 (€1,293,750) and is expected to sell off-plan during construction with lots of off-market interest already received. However, if required, there is the option of refinancing the property onto development exit finance of up to 80% LTV on completion of works to cover for any extended sale period or delays in conveyancing.
The first phase of construction has come in under budget and on schedule. And following receipt of firm quotes for the second phase of construction Bluetouch have been able to reduce the overall project budget. The total development cost for this plot including all finance and professional fees is now £757,869 (€871,550) providing a strong net profit of £367,131 on completion of works (€422,201). The reduced build costs also reduce the total LTV of the development to 67% providing investors with improved security coverage and allowing for more flexible exit solutions if a refinance is required.
The site is situated in the idyllic, rural village of Woore. Surrounded by buildings and structures of considerable historical interest, Woore is a delightful setting in which to enjoy family life with excellent access to the neighbouring towns of Whitchurch, Nantwich and Crewe. Crewe boasts a thriving high street with numerous parks and is set to become a vital super-hub.
Nantwich is a charming historic market town with a wealth of beautiful timber framed buildings, and one of the finest medieval town churches in Britain, St Marys. Whitchurch is a traditional market town with beautiful countryside and a wealth of independent shops, cafes and restaurants.
Founded in 2015, Bluetouch continues to successfully carry out a wide range of projects across the North-West of England with a core team with over 60 years’ industry experience. They have placed several loans on the Max Crowdfund platform already and have a good delivery history.
Investors can invest in real estate backed loans from €100 or a multiple of this.
Because of the regulations in the Netherlands:
- A maximum of €80,000 applies per individual investor in total investments made on Max Crowdfund.
- If you have a joined account this is doubled to €160,000.
- When investing a minimum of €100,000 per loan it will not be added to the total investments made on Max Crowdfund.
- Company accounts as have no limits.
Please note, that Max Crowdfund can optionally set a maximum for a single investment regardless of the above.
You will be notified in case your investment(s) exceed(s) any limit.
On the Max Crowdfund platform you have your personal Max Crowdfund Current Account. You can top your Max Crowdfund Current Account up via various payment providers such as iDeal or by bank transfer. Provided your balance is sufficient, you can start investing in loan applications immediately. The maximum deposit amount allowed differs per payment provider, but is usually a maximum of € 50,000. If you supplement your balance via a bank transfer, please use the reference provided in the description with your payment. Please note processing your bank transfer may take more than a day, which may mean you miss out on the investment opportunity.
No. Investors must be over 18 and must have an approved account, meaning their Know Your Client (KYC) documentation needs to be submitted and approved and have a bank account linked to their account. Country-specific restrictions exist and certain nationalities may be prevented from participation in some investment products. This is to prevent money laundering, tax evasion and other illegal activities, in line with our commitment to regulatory compliance and transparency.
At the moment we only accept EURO for investing in real estate backed loans. We are aiming to accept all currencies, including crypto currencies, like we do for the Max Property Group Share Certificates, but this depends on the regulators.
By Dutch law you are allowed a 24 hour cooling-off period, which means you can either change or cancel your investment during this time without any fees charged. After the cooling-off period you cannot change or cancel your investment. You are still allowed to make a second investment. Multiple investments will be combined in one when a loan is finalised.
Yes, but you will need to have a joined bank account with your partner. If you have a joined bank account, you can request to register a joined account on Max Crowdfund. Once approved, the regulatory limit for investing will be doubled to €160,000.
You can only register a new bank account by making a bank transfer of any amount from that bank account. We only accept bank accounts that are held by you and are in your name.
If you only have one bank account registered, this will automatically be your preferred account. In case you have multiple accounts registered, you can select only one of those to be the preferred account. Funds in your Max Crowdfund Current Account that are not used for a period of more than 60 days will automatically be transferred to your preferred bank account.
When the fundraiser fails to meet their obligations to make periodic payments as defined in the loan agreement, Max Crowdfund will follow up. Periodic updates will be shared to inform investors about the status of the loan. To recover from default, measures like a change of terms can be proposed, but this requires the approval from a majority of all involved investors via online voting. In the worst case scenario the Max Crowdfund Security Agent will execute on the collateral for the loan and distribute the proceeds to the investors.
Loan terms summary
- Interest per annum 12.00%
Fully subscribed 264,400.00 raised
- Risk class i
- Expires 17 day(s) left
- Target amount €264,500.00
- Profit share 0.00%
- Term 8 Months
- Payment frequency 1 months
- Loan purpose Development
- Type Bullet i
- Mortgage rank Second Rank
- Total Loan Cover (TLC) 124.8%
- Loan To Value (LTV) 79.9% i
- Location United Kingdom
- 1724819€1,300.002023-01-24 09:22:51
- 1724814€1,100.002023-01-24 09:20:39
- 1724802€100.002023-01-24 09:11:35
- 1724792€100.002023-01-24 08:57:06
- 1724777€200.002023-01-24 08:33:30