Refinancing
When you're not yet ready to exit your Development Finance or Bridging Loan but the term's nearing its end, our loans for refinancing give you the opportunity to finish your project, sell your asset or arrange funding via traditional finance routes.
We've seen a rise in investors and developers seeking to refinance their Bridging or Development finance for a whole number of reasons from locking in the current rates available now, because their project timeline has extended or simply that they've completed the project but not yet sold. Contact us today to find out how we can help.
Development Exit Finance
Development exit finance, also referred to as Finishing & Exit Loans enable developers to refinance after the completion of works in order to gain a better rate for financing the last stage of the project - the marketing and sale/or mortgaging of the development.
If you believe you'll require refinancing we recommend you arrange refinancing as soon as possible to ensure the best deal possible. Our experts understand your challenges and will package your requirements in a way that our lending panel understands and can lend against.
We have established relationships with the UK's biggest development lenders and private investors which means we're able to complete within 14 days for loans up to £250m. Arrange a call today and get our best no obligation quote.
Refinance Lending Criteria
| Loan to value (LTV) | Up to 75% maximum |
| Loan term | 1 to 24 months |
| Loan amount | £26,000 up to £250m |
| Interest options | Rolled-up, retained or serviced |
| Interest rates | From 0.44% |
| Decision | Immediate decision in principle |
| Completion | 2 weeks |
| Early repayment fees | None |
| Availability | Secured on assets in UK & Europe Individuals, Companies, SPVs No credit & adverse credit considered |
| Exit strategy | Sale or refinance |
What is refinancing?
Refinance loans, also known as re-bridging loans are used to literally settle an existing loan by way of taking out another loan. There are a number of reasons why you might require refinancing but most likely, in the case of refinancing a bridge or development loan, it will be because the original loan term will stop before an exit through sale or longer term finance is possible.
Why has there been a surge in refinancing?
Re-bridging has experienced a surge in requirement during the past 18 months due to significant pressures on construction schedules brought on by the COVID-19 pandemic and Brexit. Property development timescales have been negatively impacted from both labour shortages and material supply issues in the UK causing many developments to over run. The impact has been more acute for the small to mid-sized developers where they typically don't have as robust a supply chain in contrast to larger developers.
Its not merely construction schedules that have caused the spike in refinancing. COVID-19 has impacted the capability of almost all stakeholders within the supply chain including brokers, valuers and solicitors. As with all challenges however some good has come from it, not least of all an increase in the acceptance of desktop valuations, saving significant time and costs.
With no immediate end in sight of these challenges its likely that refinancing will increase further in requirement in the short to medium term.
Find the best refinance rates right here!
Get expert assistance today, we're on hand to answer any questions about refinancing. To find out the exact costs of a loan click here to complete our refinancing enquiry form - it takes just 3 minutes!
Call our friendly team on 01202 612934, we're ready to help.
