Loans range from £50,000 up to £5m and are secured via a 1st or sometimes 2nd charge against residential, commercial or land assets including farmland. Typically loans are interest only and rolled up into the facility to be paid on redemption.
As loans are short term it is essential that the borrower has an exit plan in place to repay the debt from sale or re-finance. Most loans are repaid within 12 months but longer periods are sometimes required for larger development projects.
We lend against open market value and not as a percentage of costs which can reduce the developer’s equity stake and reward those adept at finding below market value transactions or who have worked a planning angle.
The exact amount to be borrowed is dependent on the quality of the project and the financial strength and experience of the borrower but 90% of costs is possible with our stretched senior and mezzanine debt offerings and higher in special cases.
Get in touch today and let us work with you to convert that opportunity into profit.
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