Development Exit for a Residential scheme in Bristol

Deal Structure

75% LTV

£750,000 Loan amount.

9 Months term.

Deal Summary

Our client had recently completed a development of of 10 detached houses in Bristol, and needed to redeem the residual Development Finance facility which was secured against the 3 remaining units.

7 sales had already gone through & 1 house was reserved, leaving 2 left to sell.

The Development Finance facility was getting close to the end of the term and the incumbent lender wasn’t in the market of providing Bridging loans, so our developer client needed refinance options.

After a market review, we identified the most appropriate option which provided a cheaper interest rate than the Development Facility, and also importantly released some equity for the Developer to utilise on another project, while the last 3 units sold and profits released from the Bristol scheme.

The loan process took 6 weeks from start to finish, with completion timed to coincide with end of month as requested by the client.

Another Positive happy client!

Contact James Waddicker

07977 460546

[email protected]