Speed and flexibility
We offer borrowers speed, flexibility and an understanding of the residential market. And, as we enjoy excellent relationships with senior lenders, our involvement is seamless.
Every scheme is assessed on its individual merits. We will analyse the financial, marketing and construction viability of your scheme to establish if it fits within our lending criteria. In doing so, we will look at the project timeframe, your past experience and the availability of senior debt finance from a bank.
Our lending parameters are:
- Residential or mixed-use project in England, Wales or selected parts of Scotland
- A loan period of between 12 and 18 months
- Mezzanine requirement of between £200,000 and £2m
- The borrower to have equity available of 10% of the project cost or able to provide alternative security (planning gain can be considered as equity)
- Planning permission already obtained or permitted development rights available
- GDV (gross development value) between £2m and £20m
- The total of senior plus mezzanine debt not to exceed 70% of GDV
- A second fixed charge over the development property to be available
We also expect you to have strong experience of the market in which you are developing.
Our finance offer will be structured to accommodate your particular transaction. All projects are different and we strive to ensure that the funding package works for you and your senior lender.
We make the process as easy as possible:
- Simple interest – no compounding
- Flexible rates
- Flexible loans to value