Development Exit loan for development in Surrey
Development Exit loan for development in Surrey
𝗤𝗨𝗜𝗖𝗞 𝗟𝗢𝗔𝗡 𝗢𝗩𝗘𝗥𝗩𝗜𝗘𝗪
- Development Exit Finance
- 70% LTV
- 20 property site, houses and apartments
- All works complete
- 80% of properties sold
- One property reserved
- Loan to repay existing finance, extend sales period and capital raise for future projects
- Loan exit: sale of the remaining properties
- 6-month term.
Borrowers’ requirements: The client is a very experienced and well-known developer. They have a 20-unit development in Surrey, with 16 of the units already sold and required the loan to lift out existing debt and provide funding for the sales period of the 4 remaining units. They were looking for 70% LTV, which includes an element of capital raising to be used towards their next property development project.
Catalyst solution: Catalyst were delighted to issue terms for a 6-month loan. We are confident that with all works complete, and 80% of the units already sold, the borrower will be able to successfully sell the remaining units and repay the loan.
Have a Project in Mind?
Senior Internal BDM, Sam Shand, says, “We were pleased to be able to provide the development exit on this site. This was a straightforward facility for us. The borrower is a very experienced, reputable house builder who is a pleasure to work with. The development itself was a lovely gated community, very well designed with great aesthetics and situated in a fantastic location.”
