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Property development

SUPPORTING A LIFE-SAVING CAUSE

A property developer is supporting the hospital that saved his daughter's life, with help from a development loan's unique feature.

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Blackcourt Developments

London SE20, UK

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Vasos Adamou of Blackcourt Developments used a £1.4 million bank loan to help develop nine new-build flats, while ring-fencing vital funds to support a cause that means so much to him and his family.

Through the CAF Bank loan, Vasos put aside £7,000 of the arrangement fee to donate to the Evelina London Children’s Hospital, a specialist hospital that cares for seriously ill children. This was a very personal donation for Vasos and his family. His daughter, Cissy, was treated at this hospital for a complex congenital heart condition and a number of other serious health problems.

Development finance from CAF Bank enables property developers to transfer one third of the loan arrangement fee to the borrower’s nominated charitable causes via a CAF Charity Account or CAF Company Account.

Speaking about one of the loan’s benefits, Vasos said: “It’s great to have the chance to do something charitable through our development loan, especially for a cause that means so much to us. We spent a lot of time with my daughter there and we owe a lot to the hospital team.”

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It’s great to have the chance to do something charitable through our development loan, especially for a cause that means so much to us.

Vasos Adamou
Blackcourt Developments

CISSY'S INSPIRING RECOVERY

Since birth, Cissy has been in and out of hospital. When she was ten years old, her heart started to deteriorate, so she underwent major heart surgery led by a top surgeon brought over from the USA.

Speaking about Cissy’s ordeal, Vasos said: “The surgery didn’t work and, after Cissy spent months in intensive care, we were told that she needed a heart transplant. After a four week wait at the top of the European Transplant waiting list, Cissy finally received a heart transplant. It was a terrifying, horrific time.”

After a prolonged recovery, further tests revealed Cissy was now suffering from kidney failure resulting from her previous end-stage heart failure.  Cissy’s Mum, Jo, donated one of her kidneys to Cissy in 2012, which the family hoped would be a turning point.  However, a year later, the family was dealt another blow when Cissy was diagnosed with tumours on her brain and spine, side-effects of the anti-rejection medication she has to take.

Following radiotherapy treatment, Cissy has made an extraordinary recovery. Since then, she has raised £13,000 from a sponsored head shave, won a Pride of Britain Award, started at university and launched an appeal to raise £150,000 for the hospital that helped save her life. 

Scott Newman, Head of Personal Banking at CAF Bank, said: “After hearing the family’s story, it was hard not to feel incredibly inspired. And I was in the fortunate position to be able to help them give back.  Not only that, but we have helped Vasos and his brother, co-owners of the development company, to replace a tired, energy-inefficient HMO with a wonderful new asset.”

PROJECT SNAPSHOT

Type of project  New build - nine flats 
 Loan amount* £1.4 million
 Loan to Cost** 54% 
 Loan to GDV** 48% 
 Development loan % 10% of current land value and 100% of development costs
 Location of development London SE20
 Charity beneficiary Evelina London Children's Hospital


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* CAF Bank loans are non-regulated products.

** The Loan to Cost and Loan to GDV figures stated were correct at the time of loan sanction, but are subject to change during the loan term.

Loan applications subject to credit assessment. Security will be required.

Your personal or company’s assets may be at risk if you do not keep up with the repayments for a mortgage, loan or any other debt secured on them.

If you are thinking of consolidating existing borrowing, you should be aware that you may be extending the term of the debt and increasing the total amount you pay.

CAF Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register number: 204451).

CAF Bank Limited Registered office is 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ. Registered in England and Wales under number 1837656.