When a development project is coming towards the end of its agreed funding facility, unexpected delays, or finalising sales, can have a significant impact on the profitability of your development. Development exit finance, sometimes called sales period funding, allows you to extend your finance facility, giving you time to get your project sold whilst benefiting from cheaper debt with no early repayment penalties.
The key benefits of Development Exit Finance are:
- Lower rate of interest compared to initial development debt
- The owner of the project is assured completion of the project
- Ability to release funds which allows a property developer to begin their next project
- Rolled up interest payments with no monthly repayments
- Ability to fund to higher LTV
- Fast to get in place
The key highlights include :
- LTV up to 75%
- Rates from 0.54% p/m
- No early repayment charges
- Suitable for part-complete (wind and watertight)
- Coverage in England, Scotland & Wales
Development Exit Finance
Exit finance is the funding tool of choice for developers coming to the end of a project or find themselves between two projects. Broadly speaking, it’s an instrument that can serve many purposes however, developers tend to make use of Exit Finance when the project stretches longer than anticipated or unfavourable market conditions call for a late exit (as a result of a global pandemic perhaps).
We a team of specialist brokers to help you find the best finance deals from across the whole market. We work with a comprehensive list of lenders and financial institutions ensuring you find the best interest rates and fees currently available. We can assist with Short term bridging loans from £100,000 to £100,000,000+.
If you are looking for a bridging solution or are coming to the end of your current term, we are here to arrange your next facility- Call us on 020 3701 0422 or fill in our enquiry form online.
