STRETCH
SENIOR

▼

A development finance facility designed for small development projects that require higher leverage than what other lenders typically provide.

Loan Criteria

Who we lend to
Experienced Property Developers

Typical borrower
A developer looking to stretch their borrowing ability and reduce equity requirement

Types of project
Residential-led, mixed-use, office to resi conversions, new builds

Rates
From 12% p.a.

Loan size
Up to £1,000,000

Term lengh
Up to 24 months

LTGDV
Up to 75%

LTC
Up to 95%

Where
London, Home counties, South East, South West and Midlands

Borrower or broker will contact us with outline details of the project.
We will respond with any further questions.
Once satisfied we will issue Indicative Terms to the borrower or broker. This is typically within one working day.
Upon agreeing to the indicative terms, the borrower pays a commitment fee to continue the underwriting process.
Further due diligence will be undertaken which may include additional information gathering, legal & property DD, valuations, surveys and professional reports, as well as security and facility documentation.
Following successful completion of underwriting process, satisfaction of any conditions precedent and execution of legal documentation, funds are released and the deal becomes live.
Subject to loan type, we may require a project monitoring surveyor or other professional party to undertake regular visits to assess progress and timelines.
Upon successful exit from the project, the borrower repays us along with any outstanding interest.

LOAN: £650,000
LTC: 92.3%
LTGDV: 75.0%
GDV: £1.10m
Erection of six apartments on a vacant brownfield site.
Developer funded aquisition and planning costs prior to the development finance facility.