Development Exit Finance Finsbury Park

Bridging Finance For Property Development

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:

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.