Yorkshire Bank helps restore Helfield Peel

12/02/07

“Our dream of restoring Hellifield Peel would have crumbled like the internal wall had it not been for the introduction to the Yorkshire Bank in Leeds ,” said Francis Shaw.

“We had organised a financial package with a building society for £500,000 then six weeks into the project the development grounded to a complete halt when an internal wall suddenly collapsed. The building society was not prepared to restructure the finances and walked away from the project.  This left us in a very tricky situation with a site full of contractors and builders and no funds to pay them.

“Zoe Smith at Yorkshire Bank’s Financial Solutions Centre (FSC) in Leeds stepped in and really saved our bacon. She looked at the project with an open mind, saw the potential of the development and agreed to lend us an additional £200,000 which took our total borrowings to £700,000.

Zoe organised for the Shaws to borrow the funds by arranging a flexible finance package against the estimated final value of the completed house.

“Arranging the funding through the Leeds FSC has been the most hassle-free part of the project” said Francis. “The service was excellent, the lines of communication were kept open at all times and there were few formalities to deal with. On top of everything, we were offered an excellent deal on interest rates and the bank has become an important member of the project team.  Zoe frequently came to site –something our previous lender never did.

“I truly believe Yorkshire Bank’s financial solution brings new hope to families like us who want to make their dream homes a reality.”