£3m development exit bridge for four new-build homes in the southeast
What was the situation?
We were approached by a developer who’s finance term was coming to an end on their project of four new-build homes. Unfortunately, their new lender had withdrawn at the last minute due to legal issues. They contacted LDN Finance for our help to find a new loan of £3m to replace it.
What was the issue?
Due to the current term expiring, if we were unable to find an alternative the developer was at risk of costly penalties on their maturing development loan.
What was the process?
Time was of the essence. We needed to lean on our lender relationships and act fast to secure the £3m of required finance.
What was the solution?
Working quickly, we successfully secured a 66% LTV exit bridge for the required amount with a competitive fixed monthly rate to ensure the borrower had the funds they needed to refinance and avoid financial setbacks. The developer avoided unnecessary costs and maintained control over the project’s financial outcome.
Need some help in securing specialist property finance? Our experts are on hand to assist. Call 020 3903 9875 to speak to an adviser, or use our online contact form.
Need expert mortgage advice?
We can help.
Get in touch with our expert residential mortgage advisers today to get started on your property finance journey. Whether you’re buying your first home, upsizing for more space or refinancing your property portfolio, our award-winning mortgage brokers have got you covered.
Testimonials
Our happy clients
Not only have I used LDN Finance myself on several occasions but I also refer clients. They are always exceptionally helpful, quick to respond and go out of their way to help. An absolutely excellent business, I cannot recommend them more highly.
5 Stars! The LDN team supported us purchasing our family home, without their support and as an expat it would have been very difficult to obtain our new home in the UK. I would totally recommended them.
John and Jennifer make a great team! John was on hand to offer us all options when it came to mortgages, explained any processes that may not have been clear and was always on hand from start to finish. Jennifer kept us informed at all times, really knowledgeable when we had any queries and a joy to deal with. Thank you both!
Related Case Studies