Development Finance for New Builds

Key sourced and arranged a £15m loan for new build apartment scheme in South East of England. As there was a good profit in the scheme and loan to GDV was good 50%, the lender accepted a minimal contribution from the client – in this case only 10% towards total costs including the land acquisition.  Competitive rates were achieved with a set-up fee 2% and an exit fee based on GDV applied.