Development Finish & Exit Finance

Parameters

Loan Size: £500,000 to £50,000,000

Maximum Gearing: Up to 75% GDV

Term: Up to 36 months

Location: Nationwide

KEY FEATURES OF THIS PRODUCT

Provides access to funding for development projects that have not reached practical completion with their development and have a couple of outstanding tasks to reach, and obtaining practical completion

Can be used to refinance and repay existing development loan before the due redemption date, preventing possible late or default fees with existing development lender

Can be used to refinance and repay existing development loan and release monies from profits on the scheme , which will allow the developer to complete the outstanding practical completion requirements below:

Electrical certificates still need to be obtained for practical completion sign off.

Gas certificates still need to be obtained for practical completion sign off.

Building regulations still need to be obtained for practical completion sign off.

Structural warranties still need to be obtained for practical completion sign off.

Epc’s still need to be obtained for practical completion sign off.

Ews 1 form still need to be obtained for practical completion sign off.