Development Exit Finance Hampstead

Development Exit Finance Hampstead

From our very first discussions Steve listened to our requirements and our long-term goals and he provided us with a comprehensive plan of action for the type of mortgage that he thought would meet our needs.He was spot on!Throughout the process he communicated with us regularly, discussed and updated us throughout the whole process and gave us a level of service over and above our expectations.Steve is an extremely knowledgeable and professional financial adviser. He keeps himself up to date with the market and any new financial products that become available.We would have absolutely no hesitation in using and recommending Steve in the future.

Daniel Baum

Customer Type:

Private Client

Category:

Development Exit Finance

Status:

Completed

Tags:

development exit finance

bridging loan

Property Value

13.5m

Loan To Value (LTV)

7.4%

Term

36 Months (3 Years)

About the project

An existing client had just built their dream home in Hampstead, London, NW3. The property GDV was £13.5m. There were some surprising costs that arose thought-out the project and the client wanted to enjoy the home before they had to sell. The rate secured was a floating rate at 7.0% per annum and was all rolled up into the deal for 36 months (3 years) but could have gone to 60 months (5 years) but was not required by the client.

What we did

We bought the client 36 months to sell and enjoy the home. This was more than enough time to sell such a luxury home.

  • LTV 7.4%
  • Interest rate 7% per annum
  • Rolled up interest
  • Interest was retained for the term of the loan

Steven Coogan

Results

We gave comfort to the client to enjoy their master piece and sell at his own pace

  • Releases equity on day one
  • Bought 3 years time horizon to sell the luxury home
  • Did not have to service the loan
  • Had funds to complete the build to an exceptional finish and furnishings
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.