Development Exit Finance Finsbury Park

Bridging Finance For Property Development

I am so very grateful to Steven for giving me such invaluable advice. I have several properties and have experience with many brokers but Steven is simply the very best. His knowledge, experience and understanding of the market is priceless. Thank you, thank you, thank you!

Shilpa Pujara

Customer Type:

Property Developer & Professional Landlord

Category:

Development Exit Finance For Extended Sales & Marketing Period

Status:

Completed

Tags:

Development Exit Finance

Gross Development Value (GDV)

1.6m

Loan To Value (LTV)

75%

Term

12 Months (1 Year)

About the project

Development Exit Finance Finsbury Park

An existing client contacted us, that had a development facility coming to an end and had gone over budget. For a standard LTV development exit finance product, it did not fit as loan to value was at 75%.

Bridging Finance For Property Development

What we did

We refinanced the client from a principle lender (within the 30 days) to exit the loan onto a developer exit product. This gave them 12 months to sell the property and come out of his development finance product. As the landlord had a large portfolio in the background we were able to cross collateralisation a loan over multiple properties to put the loan to value in line with the lenders criteria.

Steven Coogan

Results

This gave the borrower a solution where he had an additional 12 months to sell the property, roll up the interest and not default on the development finance facility. He did have a sale in hand but required the time as the lender wanted the capital back.

 

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.