Case study: £825,000 Development Exit completed in 12 working days
See the recent rate cuts across our bridging range.
Location: Basingstoke
Loan size: £825,000
LTV: 75%
Purpose: Development Exit to refinance to secure another site purchase.
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Lower rates across our development exit range
A developer who has worked with us before needed fast finance to complete the purchase of another site.
The current site was a single dwelling, recently completed development and already had an offer accepted, but the developer wanted assurances they could purchase their next site if that deal fell through.
An experienced developer who we had worked with before, we had no concerns about their ability to sell the unit, and just needed to deliver the deal in quick enough time to secure their next purchase.
Following valuation quotes there was a quick instruction, with the valuer out to the site within a couple of days and once that was returned the LendInvest team worked closely with the lawyers to push the deal through in the time limit.