Development Exit Bridging Loan

Witten By: by Charleston Financial

We were approached to deliver a new bridging loan on a completed development project that was funded by development finance which was shortly coming to an end. Rather than go into default with the development finance, the client wanted a "developer exit" bridging loan providing them with cheaper funding than a development loan whilst the property was being marketed. This provides the flexibility to repay at any point once the property has sold.

The client had a minor CCJ in the background. Charleston were able to agree standard lending terms with the lender, saving the client thousands.

 

Customer Requirements

 

 Product Type Bridging Finance
 Property Type New Build House
 Completion May 2019
 Loan to value 40%
 Property Value £1,500,000
 Location Essex

 

Financial Package Delivered

 

 Charleston Advisor Andrew Blackwell
 Loan Manager Karen Ford
 Lender InterBay Commercial
 Loan £600,000
 LTV 40%
 Interest Rate 0.44 per month
 Repayment Type Interest only - rolled up

 

To discuss a similar situation call one of our advisors on 01908597811

Go back

Request a call back

Please choose how you would like to receive future information, offers & other communications

Integrity

Honesty

Transparency

Commitment

Knowledge

Communication