Development Exit Finance Exeter

Development Exit Finance Exeter

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.

M Simon

Customer Type:

Professional Landlord

Category:

Development Exit Finance To A Commercial Term Loan

Status:

Completed

Tags:

Development Exit Finance, Commercial Term Loan

Gross Development Value (GDV)

1.5m

Loan To Value (LTV)

50%

Term

12 Months (1 Year)

About the project

Development Exit Finance Exeter

A developer exit finance product to finance away from a commercial facility as the loan was being called in. This was a mixed used development with commercial and HMO’s above.

 

Development Exit Finance Exeter

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.

Steven Coogan

Results

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.

Steven Coogan

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.