LDS Sales Guarantees, a company specializing in real estate, has finalized the cash acquisition of seven unsold homes, collectively worth close to £3 million. This purchase was part of a sales guarantee and interest-free cash release provided to D T Joseph, a housebuilder that had been struggling with delays due to COVID-19, increased material costs, and other unexpected challenges.

The project had reached a point where seven unsold homes remained, accounting for nearly half of the site. LDS worked closely with the housebuilder to complete the purchase, allowing D T Joseph to fully repay its lender, Assetz Capital, without defaulting. This move also enabled the developer to proceed with other projects.

Andrew Fraser, CCO at Assetz Capital, praised LDS for honoring the agreement and completing the purchase promptly. Mark Hawthorn, CEO at LDS, emphasized the company’s readiness to buy properties as the market softens, expecting further acquisitions in the future. LDS’s ability to release a 10% cash deposit has proven vital in overcoming challenges like lower valuations and increased interest costs, often making the difference between a site progressing or remaining undeveloped.