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. Read more about property development finance in UK.
Information contained in our case studies is for market and illustrative purposes only. In some cases, these may be made up of multiple cases and are for illustrative purposes only.
Some case studies are made up of enquiries that have come into the business, not all business completes, and the posting of a case study does not represent a completed piece of business.
