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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.

James Waddicker

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James Waddicker

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Positive Commercial Finance is a trading name of Business Financial Solutions Limited. Registered in England & Wales 06451075. Registered office address Bedford House, 60 Chorley New Road, Bolton, BL1 4DA . Authorised and regulated by the Financial Conduct Authority (716012). Full members of the NACFB and FIBA. ICO registration reference Z1196910.

We are a credit broker, not a lender. We work with a panel of lenders who may pay us a commission. This amount varies between lenders.

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