Development Exit Finance

Area
Harpenden
Capital Raised
£300K

The Scenario:

The client, a home owner in Harpenden, was looking to develop his property to increase its value to £1.7M with the view to selling it on.  

The client did not have the necessary funding to carry out the development himself, so he approached a lender and secured £250K with a 12 month term of finance.

Unfortunately, the client’s builder caused some significant delays and the client had to find an alternative builder to finish the project.

The client’s development finally began four months into the term of finance. However, as a result of the delay, it was unlikely that the client would be able to sell the property to repay his lender within the agreed 12 months.

In danger of being in default with his loan, the client approached Clifton Private Finance for assistance.

Our Solution:

The client was close to the end of his term of finance and needed to pay £300K to his current lender. We acted quickly, reached a decision in principle within 2 days and secured the required development exit finance within 2 weeks.

We secured the client £300K, which allowed him to complete his repayment of his original loan along with the interest he incurred over the term of finance.

The client completed the development on his property, with a GDV of £1.7M.

Do you need development exit finance? Are you in a similar position? To investigate your finance options call our team on 0117 959 5094 or fill in our call back form.

Jack Spillane

Finance Broker

Bristol

0117 959 5094

Is your situation similar to this? I specialise in helping clients who need creative development finance solutions, and second-charge mortgages. Give me a call any time and we can set up a detailed discussion of the finance you need.

Mathew Phillips

Finance Broker

Bristol

0117 959 5094

Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.

Alex Chambers

Senior Finance Broker

Bristol

0117 403 4324

Are you in a similar situation? I am a specialist in residential and investment property finance for UK and international clients at Clifton Private Finance. Please don't hesitate to get in touch for a no-cost discussion of the finance you need.

Luther Yeates

Senior Finance Broker

Bristol

0117 244 5561

Are you looking for a similar type of property finance? I have extensive experience finding residential and investment property finance for UK and international clients. Please get in touch and we can arrange a time that's convenient for you to discuss your situation.

Sam ONeill

Senior Finance Broker

Bristol

0117 959 5094

Is your situation similar? I am a bridging finance specialist at Clifton. I can find a quick, cost-effective solution for the funding you're looking for.

Robert Gibb

Senior Finance Broker

Bristol

0117 959 5094

Are you looking for mortgage or short-term finance for residential or buy-to-let property (including HMOs)? I have extensive experience in finding property finance solutions for UK and international clients, both as individuals and limited companies. Please give me a call and let me see what I can do for you.

Adam Arnott

Associate Director

Bristol

0117 205 0214

Is your situation similar to this? I have extensive experience of advising clients who need creative property finance solutions. Please get in touch and we can arrange a time that suits you for a detailed discussion of your requirements.

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