Funding 365 Delivers £3.2m 75 percent LTV finish & exit facility
Funding 365 has executed a £3.2 million 75% LTV finish and exit loan at a rate of 0.78% per month - with no admin or exit fees - to complete the development of 14 new build houses in Lincolnshire.
The 12 month facility, introduced by Adelpha Capital, frees up cashflow for the experienced developer to begin work on their next development project whilst they complete and market their existing one.
The 3 and 4 bed houses are at varying degrees of completion, from shell condition through to almost finished. Funding 365’s expert underwriters worked closely with all parties to craft the highly tailored solution, delivering £2.2 million on day one and £900,000 in further advances.
This finish and exit loan is one of the many uses for Funding 365's versatile Light Development product, which offers bespoke funding solutions of up to £5 million on properties across England and Wales, with no admin fees, exit fees or early redemption fees. All of their simple, transparent products can be viewed on their website www.funding-365.com/products
Read the full story here:
https://www.developmentfinancetoday.co.uk/article-desc-8914_Funding%20365%20completes%20%C2%A33.2m%20finish%20and%20exit%20facility%20for%20Lincolnshire%20residential%20development