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 (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.
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.
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