Alburys Financials is delighted to announce the completion of a £3M Development Exit Loan on four detached houses in Brighton.
THE SCENARIO
Our Client was the Director of a successful development company in Surrey.
The Client had just completed 4 detached houses on a site in Brighton using funding from a mainstream lender at 50% LTV.
The 4-bed houses were valued at c£750k each giving a total GDV of c£3M.
Our Client required the facility to repay their current lender and capital raise for cashflow purposes.
Essential requirements were sped along with no exit penalties.
OUR SOLUTION
Current value £3M+
£2M Gross Loan
6.15 % pa
12 months term
Interest - Fully Retained
Exit - refinance or sale
These are details of a previous deal we have helped our Client with. Any rates or terms expressed in this case study were specific to those clients’ circumstances and may not be available now. Therefore, any terms or rates offered to you may differ and will be subject to status.
If you have any questions or wish to discuss any funding requirements, please don't hesitate to contact us. We'd love to hear from you.