A finish & exit loan for in-demand bungalows
We provided a bridge facility to allow our client to complete and sell desirable and rare bungalows in Stoke.
We provided a development exit bridge finance facility to an experienced developer based in Stoke.
Our client needed to finish works to nine of a total 13 bungalows before marketing and exit of the site. Our facility had a provision for additional funding to be provided to the project as units were brought to market. This flexible solution worked efficiently with all units sold and the loan exited ahead of schedule.
Gross Loan
£1.3M
Term
18 Months
LTV
40%
Units Created
9
Exit Method
Sales
“Strong sales performance of desirable and rare bungalows saw this facility repay considerably ahead of term.”
- Rebecca Nutt, Director of Portfolio Management
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