Development Exit Finance To A Commercial Term Loan
Development Exit Finance, Commercial Term Loan
Gross Development Value (GDV)
Loan To Value (LTV)
12 Months (1 Year)
About the project
What we did
We refinanced the client from a principle lender that had 30 days to exit the loan onto an exit product. This gave them 12 months to source a commercial term loan. The loan to value (LTV) was extremely modest and we felt this was a good out for the borrower.
We gave the property investor / landlord a solid deal so they could draw down on time at competitive rates.
We generated the funds required to pay the principle lender and gave them time to obtain terms for a long term commercial loan should they need it. The product was a tracker over base but had a large exit fee. Thus, the total to pay was similar to refinancing with a bridging loan and then a term loan with flexibility. This type of funding is a tough market as of Nov-23.
Are you looking for a similar type of property finance?
As a specialist bridging loan adviser at Madison Carter Finance, I can take a 360 view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you.