What Is Development Exit Finance?
Development exit finance is a form of finance used to repay any outstanding finance against a development project once it has finished. Development exit finance is used in the 3 following scenarios:
- 1. Firstly, to release capital from a development before all the units have been sold, effectively allowing you to move onto your next development project. Funds can be arranged quickly along with fast completions where required.
- 2. Secondly, your current development finance is coming to an end and sales will not be completed in time.
- 3. Finally, if you are finding that your current development finance deal is expensive, then development exit finance maybe the right option for you to reduce your finance costs. This is becoming more common as rates have dropped and can be as low as 0.44%.
Development Exit Finance Criteria
Below are the key criteria points for development exit finance
- 1. Rates starting from 0.44%
- 2. Loans from £100,000 with no max limit
- 3. Terms of up to 36 months
- 4. First time developers considered
- 5. Finance available throughout the UK
- 6. Adverse credit considered
How much does it cost?
The various options for development exit finance stem from our wide panel of bridging loan lenders, with rates starting from 0.44 % per month.
Most of these lenders will charge an arrangement fee, which can vary depending on the lender, loan size and loan to value.
How Much Can I Borrow?
The minimum loan is £100,00 with no maximum limit. We can normally provide 75% loan to value on residential and mixed use schemes. Depending on the strength of the application we may be able to go as far as 80%.
How long does it take to complete the process?
It takes roughly 7-14 days to complete a development exit finance application. At the outset, one of our advisors will be able to inform you of an estimated completion time. Once completed, you will be able obtain the required funds.
