We now have access to CBILS backed bridging finance for ‘Developer Exits’ on residential development schemes.
This product is Ideal for developers where the ability to repay an existing facility was impacted by the current economic slowdown.
It can also be used to provide cash-flow to cover non-structural fit-out works on the scheme the lender is securing against (this will be capped at 15% of the property value).
- Up to 75% LTV
- For refinancing only (not for purchases).
- Working off Open Market Value
- Minimum £100k
- Maximum £2.5m.
- 12 months term
The Government will cover 100% of the interest and the lender arrangement fee.
- UK Limited Company applications only.
- England, Scotland & Wales
- Residential properties only
- No PG’s required on loans below £250k
- PG’s required on loans above £250k