We have access to a huge range of Bridging Finance products which can be used for a variety of business purposes. In particular, Developer Exit loans & Refurbishment loans are now very competitively priced.
Developer Exit loans be used to refinance complete or almost complete properties and can be utilised when:
- Developers need to capital raise on the remaining units on a development.
- Developments are approaching practical completion with debt to repay.
- Developers need more time to sell remaining properties.
- Up to 75% LTV.
- Rates from 0.5% per month (can be heavily discounted for loans above £1.5m).
- No maximum number of units.
- Day one capital raising permitted.
- Split sales proceeds released to the borrower as sales progress (from 10-40% of sales proceeds released depending on LTV).
- Partial/ full repayment of mezz/ equity.
Refurbishment loans can provide funds for the acquisition (or refinance) and 100% of the works to be carried out on refurbishment, conversions, extensions & change of use schemes.
- Up to 75% LTV net on Day 1, then 100% of cost of works subject to a maximum of 70% Loan to GDV
- Rates from 0.5% pcm (can be heavily discounted for loans above £1.5m)
- Residential and semi-commercial schemes
- Minimum loan size £200k
- Adverse credit can be considered
It is not uncommon for us to be able to source options which other brokers do not have access to, so feel free to put our services to the test today.
