Development Exit Finance
Madison Carter have been outstanding from start to finish. As a company they are extremely professional and worked tirelessly for us to get a successful outcome. I found Steven Coogan very knowledgeable and he was able to communicate everything to us in layman’s terms throughout the process. I would have no hesitation in using Madison Carter again and have already recommended them to friends.
What Are The Costs Of Development Exit Finance?
What Are The Costs Of Development Exit Finance?
When seeking development exit finance, you must take all of the associated costs into account. These include:
Interest Rates
From 0.50% per month.
Lender Arrangement Fees
Lenders charge these for making the loan arrangements. Typically you pay them on completion. These fees could be between 1% and 2% of the loan and are often able to be added onto the loan.
Broker Fees
Some brokers also charge arrangement fees. These can be as much as 2% of the total amount of the loan.
Lender Exit Fees
At the time of repaying the loan in full, some facilities charge an extra fee. This may either be 1% of the total loan amount or the equivalent of a month’s interest.
Valuation Fees
New property developments require you to carry out a Red Book Valuation on a 180-day sale basis. You must pay Valuation fees before carrying out the survey.
Legal Fees
Typically, property developers take responsibility for both parties’ legal work. The fee is due when the facility reaches completion. Should the facility fail to complete, you must usually pay abortive fees.
Lenders may consider Adverse Credit.
Product Feature Range
Key features
| Max LTV | Up to 85% |
| Interest rate | From 0.14% per month above BoE |
| Charge types | 1st, 2nd & 3rd considered |
| Term | 1-36 months (max 60 months for regulated loans) |
| Interest type | Added to the loan, deducted or serviced |
| Completion timescale | 3 days – 4 weeks |
What Are The Criteria For Development Exit Finance
- Residential, commercial property or land acceptable
- Available to individuals, partnerships, LLPs, Ltd companies, offshore companies, foreign nationals and pension funds
- Minimum applicant age 18 years – no maximum age subject to exit strategy.
- Adverse credit accepted (on a case by case basis)
- Loans from £1,000,000 with no maximum loan size with Madison Carter Finance
Development Exit Finance Calculator