How we can help property developers with their cash flow
As a property developer, you will be familiar with this situation; your latest development has gone well, coming in on time and on budget. The product looks great and the selling agents are raving about the market and how your units will fly off the shelf. Great news.
However, that’s not it for you. You have other developments to be getting on with and your lenders are keen to progress with you. They want those arrangement fees and deal stats!
But, they also need your stake into the next deals before they can draw down and at the moment, it’s tied up in your other successful development. Without additional, spare capital, you’ll have to delay the next project until the existing one sells and you’ve paid the bank back. Or will you?
Innovative lenders have developed a solution that might just help you move on with your property development business. Development Exit Finance is a form of bridging finance, releasing cash equity from your existing completed development that you can use towards your next scheme.
Typically gearing up to 70% of the completed property’s market value, if your existing loan to GDV is, say, 50%, then that’s 20% of the existing scheme value that you could release into your next project.
Now, there are lots of lenders offering this product, but how do you know who they are or which one will offer the best particular deal for your business?
That’s where we come in. With our years of development finance experience and lender contacts, we are able to source the best all-round deal for you. Not only that, we will project manage the whole borrowing transaction for you, freeing up your time to get on with your next successful development.