Whether you’re an experienced or first-time developer seeking to take on development projects, FundingSmiths is on hand to help execute your vision. Some of these schemes may include light or heavy refurbishments, adding new floors to existing buildings, converting offices to residential flats or undertaking ground up multi-unit developments. FundingSmiths could help leverage your opportunities faster and complete schemes on budget and on time.
Development Exit Finance
Scenarios where your new development hasn’t sold as expected, a development exit finance can be useful to help release capital. Funds can then be arranged quickly to help start your next development project.
|Lending size||£500k to £25m|
|Borrower profile||Experienced and first time developers|
|Loan To Gross Domestic Value (LTGDV)||Up to 75% and finance 100% of the build costs|
|Loan-To-Cost (LTC)||Up to 95% depending on levels of experience|
|Rates||Starting from 5.5% per annum|
|Term||Up to 24 months|
|Additional notes||Borrower’s contribution to be injected into the purchase costs with the Bank funding the difference and 100% of the build and finance costs|
|Loan Purpose||– Funding part-complete projects|
– Ground up developments
– Heavy refurbishments
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