Developer Exit Loan - Wind and Water Tight
Developer Exit Loan Lender, No Broker Fees, Funding Rate from 0.57% p.m., Max LTV 75% of MV, Release Money for Your Next Site, Buy Yourself Some Time to Complete!
We have three types of developer exit loans; if your site is wind and water tight, please see details below. If your site units are at, or very near to practical completion, please click on DevEx, Ready for Sale
. If your site is at an earlier stage than wind and water tight, please click DevEx, Out of the Ground
Developer Exit Loan, Why Use It?
- Your relationship is not working with the Development Lender, and you may wish to change lender
- You wish to cheapen up your funding cost; a project at wind and water tight should attract a lower interest rate than a development loan
- Your Lender has stopped paying drawdowns; for example, they didn't have the funds available to meet their obligations
- You are running out of time to complete the project, due to unforeseen delays; and your Lender may not be wiling to extend the term of the loan. If they are, they may be being unreasonable regarding rate or fees.
What are the Terms for Refinancing a Development Finance Loan?
- No Broker Fees
- Retained or Rolled Interest, from 0.65% per month
- Adverse credit considered on a case by case basis
- No minimum size, maximum size £10 million
- Maximum LTGDV 70% and LTC 85%
- 1st Charge
- Residential properties: Flats, Houses, HMO's etc.
- Properties in England and Wales
- Multiple security welcomed
- Corporate or individuals, for business purposes
- Debenture and Personal Guarantee for Corporate
- Foreign Nationals welcome: Directors from EEC, US, Canada, Australia, New Zealand, Singapore, and Hong Kong