Large Development Exit Loan

8th June 2021
ASSOCIATE DIRECTOR

Tom O’Brien

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Large development exit loan
Tom O’Brien
ASSOCIATE DIRECTOR

Tom O’Brien

Key facts:

  • Property investment company
  • 6 apartments, Kingston upon Thames
  • Property value: £3,710,000
  • Loan amount: £2,597,000
  • Fee: 2%
  • Term: 12 months
  • Rate: 0.89% per month

A recent case involves arranging a development exit loan for an active property developer. Development exit loans are used to repay outstanding finance against a property development once the project is complete. Such loans can provide the time needed to market and sell the remaining units.

The property in this case was 6 apartments valued at £3.71m in Kingston Upon Thames. Having sold two of the apartments, the developer needed a development exit loan with the rest of the apartments still on the market.

Using our expert knowledge, we secured a competitive mortgage rate of 0.89% per month with a 12 month term. In fact, since completing the deal last month, three of the apartments are now under offer.

If you need short-term finance, are looking to up-size or down-size your family home, or are a property investor looking to refurbish your property, a bridging loan may be for you. Bridging finance can be used in a multitude of scenarios and for practically any reason.