We are very pleased to announce that we are one of two packagers with access to this new development finance offering.
- 65% of VALUE net on day 1 (subject to 100% of purchase price), PLUS interest roll-up and arrangement fee added.
- 100% of build costs
- Subject to a maximum of 70% LTV throughout
So with interest (and fee) added, and 65% NET available on day 1, this will actually provide a higher LTV on day 1 than the competition.
Lending is also against VALUE and not purchase price!
Minimum term 3 months, maximum 18 months
Minimum loan £100k
Maximum loan £7.5m
2% arrangement fee
Interest at 1% per month (on the drawn sum)
1% exit fee based on the facility amount and NOT the GDV.
Fully detailed planning consent must be in place, and borrower would need to demonstrate previous experience.
England, Scotland and Wales.