Earlier this year, we introduced our Development Exit loan, designed to offer expert funding solutions for developers coming to the end of a project. This email provides you with all the essential information you need to know about the loan, including the application process and the dedicated team behind it. Read on to find out more!
What are Development Exit loans?
Development Exit loans are loans for a residential or mixed-use scheme that is close to (or at) practical completion, where the borrower, due to no fault of their own, requires extra time to:
- Complete the project;
- Achieve sales of their properties;
- Release some equity to assist with their next development
Why choose Shawbrook?
At Shawbrook, we provide bespoke finance solutions delivered by a dedicated team with extensive regional expertise. We aim to make Development Finance simple, offering first-class support to developers across mainland UK all the way from blueprint to reality.
Our Development Exit loan product offers:
- Loans from £1m to £30m;
- Up to 75% LTV, subject to criteria;
- Maximum term of 18 months.
Pricing
Our Development Exit loans are separate from our Bridging products and as a result, they have a different pricing and commission structure. All pricing is determined on a case by case basis.
Our Development Exit product offers a 1% arrangement fee, plus a funded broker fee (within LTGDV calculations) up to a maximum of 2%.
How to apply:
- Submit your case by emailing the team at DevExit@shawbrook.co.uk. Do not submit via MyShawbrook or use the loan calculator.
- Our Development Finance team will pick up your case and get in contact to discuss how we can best support your developer with bespoke facilities.