“Developer exit bridging loans offer short-term finance for property developers, which they can use to repay their development finance. This provides extra time to finish works, or find the right buyers for the properties.
The borrower uses the loan to pay off their, often more expensive, development finance. Development exit loans are secured against the built assets and have many options regarding repayment, including repaying each time a property is sold, or servicing the loan. This can all be discussed with our underwriters.
Development deadlines can be tight, and developers may find they’ll need more time to sell properties at premium prices, or organise long-term finance. Developer exit bridging loans can facilitate this.
It can also ensure that they don’t end up paying expensive fees to their initial lender should they encounter any delays.”