Development Exit Loan
A development exit loan is a short-term bridging facility used to repay an existing property development loan when a project:
- Has reached or is close to practical completion.
- Is unsold or partly sold.
- Is unlet or partly let.
Development Exit Loan used to:
- Repay an existing development loan due to expire.
- Allow a developer more time to sell or let a completed scheme.
- Reduce borrowing costs.
- Release equity by leveraging the higher LTV.
- Avoid default interest rates and charges.
Development Exit Loan terms
- Available for any type of property.
- £250k to £20m.
- Max 75% LTV.
- Interest rates from 0.54% per month.
- Lender arrangement fees from 1.5%.
- Term typically 6-18 months.
- Adverse credit accepted.
- First legal charge.
- Supporting security considered.
- Personal Guarantees and Debenture may be required.
Information to apply for a Development Exit Loan?
- Borrower details.
- Developer background and experience.
- Funding requirement.
- Information about the development.
- Security offered.
- Exit or repayment strategy.
Quest Commercial Finance is a specialised bridging loan broker. We work with a panel of bridging lenders in London and throughout the UK offering cost effective terms for our developer clients. Contact us if you would like to learn more about how development exit finance works and your funding options.