Development Exit Bridging Loan
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.
|Product Type||Bridging Finance|
|Property Type||New Build House|
|Loan to value||40%|
Financial Package Delivered
|Charleston Advisor||Andrew Blackwell|
|Loan Manager||Karen Ford|
|Interest Rate||0.44 per month|
|Repayment Type||Interest only - rolled up|
To discuss a similar situation call one of our advisors on +441908972491