Development exit finance deal helps a developer to complete their scheme and maximise their sales revenue.
Far West Developments have completed their exciting project of 6, luxury detached homes on the cliff side, close to Land’s End in Cornwall. It boasts stunning views of the beach and the English Channel to the East, with the Irish Sea to the West.
To help them refinance their existing development loan with Assetz Capital and move to a more cost effective development exit finance bridging loan, we helped them to secure a £4m facility. This has enabled them to refinance at more favourable terms while they complete the sale of the final units. It is anticipated that this 12 month loan will help Far West to maximise their profits during the completion of their latest project.
Jon Pike, our Relationship Director who led the project said, “Having been the original lender in the development of this high quality site being 6, luxury detached houses, we are delighted to now offer our existing good clients continuity during the sales phase by way of a new development exit loan of £3.9m representing 68% LTV over the next 12 months to facilitate the residual sales period.”
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Whatever your development exit, residential refurbishment or bridging finance needs, Assetz Capital are here to help. Why not call us now on –
0800 470 0430 or email us at [email protected].
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