£1.68m Dev Exit loan for a semi commercial property
Development exit loan required due to building control delays.
The borrowers were experienced investors with a large portfolio. Due to building control delays, they needed to refinance quickly as their existing facility was coming to an end.
Quick loan overview
▪️Commercial unit with four flats above
▪️Site works completed
▪️Bridging loan required to allow more time for BTL facility
▪️Loan: £1,680,000
▪️70% LTV/OMV
▪️Term: 12 months
▪️Loan exit: refinance.
Aaron Deo, Catalyst Underwriting Manager says: “Working with trusted value and legal firms (Capital Value Surveyors and Fieldfisher), we were able to meet the timescales required and complete the loan in just 45 days.”
Jake Smith, Internal BDM at Catalyst says: “Happy to get this one across the line, and showcase Catalyst’s ability to lend off the Market value on semi-commercial assets.”
Have a Project in Mind?
