Developer Exit for 4 properties near Durham

Deal Structure

80% of the GDV of remaining units

£1m Loan.

2% Arrangement Fee.

Interest at 1% per month.

No Exit Fees.

9 months term.

Deal Summary

A long term client of ours had completed a development of 10 units in the North East of England near Durham.

The development site of 10 units was 100% complete and 6 of the units have had the keys handed over to the new owners.

Of the 4 remaining units – 2 were sold (waiting for the sale to complete) and 2 were still on the market.

Our client required some funds out so that he could move on to the next project.

The valuation was arranged quickly and the Loan completed in under 4 weeks.

Another recurring customer happy with the service provided by Positive Conmercial Finance.