Development Exit Loan to Facilitate New Project in Essex
Overview
A property developer in Essex sought a development exit bridging loan to redeem their existing development finance. They required additional capital to kick-start their next project. Time was of the essence to avoid costly delays.
Key Loan Terms
Loan Amount:
£2,250,000
Loan-to-Value (LTV):
65%
Term:
12 months
Security:
Residential Development, Essex
Purpose:
Redeem Development Finance and Capital Release
Completion Time:
Within 2 weeks
The Outcome
London Credit swiftly structured and completed the loan, providing funds within 2 weeks. This allowed the developer to settle their previous loan and proceed with their next development without interruption.
Client Testimonial
"London Credit’s quick turnaround allowed us to keep momentum on our projects."
