Development exit finance
What is development exit finance?
It’s a facility to help you release cash from you completed or part built development and/or replace your existing lender with an affordable short-term finance solution.
In essence, it’s a low rate bridging finance product that carries little or no early repayment penalties. The product has proven incredibly popular of late and below we’ve laid out the criteria and the typical scenarios it is used for.
Are you looking for developer exit finance?
Key Criteria
01 — Up to 75% LTV
02 — Lower your current finance costs
03 — Little or NO early repayment penalties
04 — Fast decisions / completions
05 — Use to repay lender/raise captial
06 — Adverse credit considered
What is developer exit finance used for?
Approaching end of term with current lender
Some lenders are known to charge penal rates if the facility is not repaid on time. Therefore, developer exit finance is an excellent option if this happening to you.
You’re unhappy with the current interest rate.
You may be tied in to a high interest rate development facility. The good news is, once these units are complete or nearly complete you can re-finance the project on to perhaps a lower rate facility and improve your profit margin.
You wish to release cash for other projects.
If you have you unsold stock tying up vital cash, this product is ideal to enables you to release funds to perhaps buy other sites etc.