Development exit loans can help repaying the initial development finance on your project, providing you with extra time to finalise your plans.
Try the MFS bridging calculator to estimate the amount you can borrow, interest and other costs. Just enter the market value of your property, any outstanding mortgage, the amount you’d like to borrow and the months you’d need the money for. The calculator is easy to use and you get instant results.
Our developer exit loans are short term, specialised products designed to cover original development finance. You can use this funding to secure extra time to finish works, figure out long-term finance solutions, and find the right buyers for your development. This breathing space may prevent you from needing to sell off individual units at a reduced price, just to hit a looming deadline.
You can borrow between £100,000 and £30,000,000 for this type of loan.
This loan can be used for small or large residential development projects, ranging between 4 and 100 units. The funding can allow you to finish off any minor development works such as internal refurbishments. Development exit loans help bridge the gap between completion of a project and securing long-term finance, or the sale of the units.
You can use this funding to support the purchasing of multiple units primed for development. They could take the form of individual builds, a block of flats, or other types of buildings. Our development exit loans can be used for both residential and commercial properties located in England and Wales.
Property developers may start a project with the simplest end-goals in mind. You may just want to develop a building to its fullest potential, and sell individual units for a healthy profit. But, these kinds of projects take time. Often, things rarely go to plan. Refurbishment works can end up delayed, while external changes in the economy force adaptation.
We’ve seen evidence for this in recent months. Supply chain issues left builders with material shortages, while Government changes put the markets in turmoil. Adapting to these problems will be difficult enough. But our developement exit finance can ease the pressure as you find long-term solutions to these kinds of short-term issues.
On top of giving you additional time to organise your affairs, development exit loans provide flexibility and budget-friendly perks. There are many ways to set up an agreement and tailor repayment terms. You can repay the loan in stages as you sell off units, minimising the interest payable and cutting monthly bills.
Alternatively, if you’d like to cover the loan in larger instalments, we can work with that. All our products are bespoke to fit in with your requirements. No matter how complicated you fear your case to be, we’ll look to adapt with what’s needed.
Property developers can qualify through a range of setups. You can apply as an individual or via a company. We offer our loans to those aged between 21 and 85. We’re also accepting of applications from any country, other than those that are sanctioned or blacklisted.
You don’t even need to be based in the country you’re operating in. If you’re situated in the Americas or the Middle East, but plan to develop a block of flats in Wales, we’re open for business. We’re also often able to service investors with adverse credit histories, CCJs, missed mortgage payments, defaults, bankruptcies and the like.
We can have funding issued in as little as 3 days. On average, most of our deals are completed in around 2 weeks, depending on the paperwork. Where unexpected development delays and deadlines emerge, we’ll be able to adapt at pace.
As all of our cases are underwritten from day one, we’re transparent on our rates and fees from the get-go. All our products feature an arrangement fee, which starts from 1% of the gross loan amount. There are no admin fees involved and commitment fees are refunded on drawdown. An exit fee may be applicable for developer exit loans, with the specific price determined on individual applications.
Development loans provide funding for the construction of property or properties from the ground up. Development exit loans are used to cover the repayment of this initial development finance. Moving the developer to the next stage of their plans.
To support you in your case, we need a few documents from dependent on your special circumstances. Amongst others, we need the following paperwork to move your loan along quickly:
The more details we can get on your development project, the quicker we can move forward.
Our underwriters and BDMs are more than happy to help you with any enquiries. You can call us, email or chat with us on our website to get your application started. Call us on +44 (0) 20 7060 1234 or email info@mfsuk.com and you will be connected with one of our dedicated underwriters, who will discuss your requirements with you, and guide you through the process.
Get in touch via phone, chat or email about your query, however complex it might be. We will try our best to say yes to you, instead of finding a reason to say no.
Email: info@mfsuk.com
Phone: +44 (0)20 7060 1234
Email: brokers@mfsuk.com
Phone: +44 (0)20 7060 1234
