Developer Exit Loans
Interbay Commercial are offering a developer exit loan on residential properties.
The loan is secured on a property that has reached practical completion with all consents and a warranty or professional consultant’s certificate in place. The property must be marketable and only recently offered for sale, but this can be used to replace other short-term finance which is ending or needs repaying.
Interest is rolled until repayment of the loan on sale, so a useful product if you have completed a project and want to release some funds while the sales are progressing.
Rates start from:
55% LTV – 0.44% per month
65% LTV – 0.54% per month
Maximum term – 18 months
Minimum loan size – £100,000