Development Exit Finance Canary Wharf
Steve has been amazing through this process, offering sound advise and guidance. If you need 'Mortgage Advise for Dummies', Steve's your man...he explained everything to me (the dummy) very patiently, knows his stuff, and is extremely friendly and personable. Highly recommend him
Customer Type:
Blue Chip Client
Category:
Development Exit Finance To Extend Sales & Marketing Period
Status:
Completed
Tags:
Gross Development Value (GDV)
46m
Loan To Value (LTV)
70%
Term
12 Months (1 Year)
About the project
Development Exit Finance Canary Wharf
A developer exit finance product to re-finance away from a development facility that had come to the end of its term.
What we did
We refinanced the client away from a principle lender and allowed them to exit the loan onto an exit product. This gave them 12 months to extend their sale period and allowed the exchange’s to complete on the new product. We used a private bank to facilitate the exit as the UBO was a strong covenant.
Results
This gave the property developer a 12 month extended marketing period with favourable terms without affecting their borrowing profile.
Are you looking for a similar type of property finance?
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