Dev Exit Loan

Completed - £24M Development Exit Loan in Surrey

Alburys Property Finance is delighted to announce the completion of a £24M Development Exit Loan in Surrey

THE SCENARIO

Our client, an experienced Property Developer, had completed a luxury scheme of 57 houses and flats in Surrey using senior and mezzanine funding. Having sold over 50% of the scheme they were left with 25 units with just the expensive mezzanine funding outstanding. 

SECURITY

A mix of 25 luxury houses and apartments (Original stock being 50+ units).

REQUIREMENTS

To refinance the remaining 25 units onto a much more cost-effective development exit finance package.

 OUR SOLUTION

  • Security Value £40M

  • Gross Loan £24M

  • LTV 60%

  • Rate 3% + SONIA per annum

  • 12 months term extendable to 18 months

  • Interest - Fully Retained

  • Exit - Sales

  • Cash release to our client on each sale once an LTV hurdle achieved

These are details of a previous deal we have helped our Client with. Any rates or terms expressed in this case study were specific to those clients’ circumstances and may not be available now. Therefore, any terms or rates offered to you may differ and will be subject to status.

If you have any questions or wish to discuss any funding requirements, please don't hesitate to contact us. We'd love to hear from you.

CALL US ON +44 (0)20 3934 9998

Credit Approved - £38M Development Exit Loan in Surrey

Alburys Financials is delighted to announce that we have recently had credit approval for a good client of ours for £38M Residential Dev Exit Refinance.

THE SCENARIO

The Client recently completed the development of over 50 houses and flats in Surrey. The Client is now looking to refinance the remaining unsold units onto a cost-effective development exit finance package for the sales stage. Currently, the debt package includes a senior and mezzanine lender.

SECURITY

The remaining security units are 40 luxury detached, semi-detached and terraced houses as well as some blocks of apartments, all on a single freehold.

REQUIREMENTS

The Client is looking for a 12 to 18-month flexible facility to fully pay down the senior debt and as much of the mezzanine funding that's possible. The main goal is to provide a more cost-effective funding package and provide time to sell the properties.

 OUR SOLUTION

  • Security Value £ 62.5M

  • £ 37.5M Gross Loan

  • 60% LTV

  • 3%+BoE pa

  • 12-month term with an option to extend to 18 months

  • 1% Arrangement Fee

  • 1% Exit fee

  • Interest - Fully Retained

  • Exit method - Sales

  • Deed of priority between the new senior lender and existing mezz funder. 

These are details of a previous deal we have helped our Client with. Any rates or terms expressed in this case study were specific to those clients’ circumstances and may not be available now. Therefore, any terms or rates offered to you may differ and will be subject to status.

If you have any questions or wish to discuss any funding requirements, please don't hesitate to contact us. We'd love to hear from you.

CALL US ON +44 (0)20 3934 9998

Completed - £3.2M Semi-Commercial Development Exit Loan in West London

Alburys Financials s delighted to announce the completion of a £3.2M Semi-Commercial Development Exit Loan in West London.

THE SCENARIO

  • The security was a corner plot building consisting of 10 flats and office space on the ground floor

  • Current value was £5.2M

  • Current debt was £2.5M

REQUIREMENT

  • The Borrower needed to refinance away from their development funder to allow time to sell their units and capital raise for other property investments

  • They required a short-term loan, up to 18 months to give them time to achieve the best prices possible, especially in light of the recent Covid 19 situation

OUR SOLUTION

  • £3.2M loan

  • 62% LTV

  • Capital raise £700k

  • Retained interest

  • 18-month term

  • Rate 0.6% p.m

These are details of a previous deal we have helped our Client with. Any rates or terms expressed in this case study were specific to those clients’ circumstances and may not be available now. Any terms or rates offered to you may differ and will be subject to status.

If you have any questions or wish to discuss any funding requirements then please don't hesitate to contact us, we’d love to hear from you.

CALL US ON +44 (0)20 3934 9998

Completed - £3M Development Exit Loan on four detached houses in Brighton

Alburys Financials is delighted to announce the completion of a £3M Development Exit Loan on four detached houses in Brighton.

THE SCENARIO

Our Client was the Director of a successful development company in Surrey.

The Client had just completed 4 detached houses on a site in Brighton using funding from a mainstream lender at 50% LTV.

The 4-bed houses were valued at c£750k each giving a total GDV of c£3M.

Our Client required the facility to repay their current lender and capital raise for cashflow purposes.

Essential requirements were sped along with no exit penalties. 

 OUR SOLUTION

  • Current value £3M+

  • £2M Gross Loan

  • 6.15 % pa

  • 12 months term

  • Interest - Fully Retained

  • Exit - refinance or sale

These are details of a previous deal we have helped our Client with. Any rates or terms expressed in this case study were specific to those clients’ circumstances and may not be available now. Therefore, any terms or rates offered to you may differ and will be subject to status.

If you have any questions or wish to discuss any funding requirements, please don't hesitate to contact us. We'd love to hear from you.

CALL US ON +44 (0)20 3934 9998

Completed - £6M Development Exit Loan on eight flats in Chelsea

Alburys Financials is delighted to announce the completion of a £6M Development Exit Loan on eight flats in Chelsea.

THE SCENARIO

Our Clients were prolific property investors based in the principality of Monaco. Their portfolio consisted of property assets throughout Europe with a combined value of £200 million.

They had just completed a luxury development of 8 flats in Chelsea, having purchased and developed using cash reserves.

As expected, the units were of an exceptional standard.

The 8 flats had a combined value of £12M.

Our Clients required the facility to capital raise for another UK project.

Essential requirements were ease, and flexibility, along with no exit penalties. 

 OUR SOLUTION

  • Current value £12M

  • £6M Gross Loan

  • LTV 50%

  • 5.99 % pa

  • 12 months term

  • Interest - Fully Retained

  • Exit - refinance or sale

These are details of a previous deal we have helped our Client with. Any rates or terms expressed in this case study were specific to those clients’ circumstances and may not be available now. Therefore, any terms or rates offered to you may differ and will be subject to status.

If you have any questions or wish to discuss any funding requirements, please don't hesitate to contact us. We'd love to hear from you.

CALL US ON +44 (0)20 3934 9998

Completed - £1.6M Refinance Loan consisting of 3 luxurious flats and one retail unit in Clapham

 

Andy Stanbury, Director of Alburys Financials is delighted to announce the completion of a £1.6M Refinance loan.

 The Clients required a mid-term refinance and capital raise on a mixed-used scheme that they had just developed in Clapham.

 The converted scheme consisted of 3 luxury flats and a shop below. The annual rent was £110k with a completed GDV of circa £2.1M.

 The Clients’ main requirements were to repay the existing £800k loan and then capital raise for future projects.

 We were able to structure the following:

  • 75% LTV loan with the addition of the arrangement fee added in giving a total loan of £1.6M

  • Fixed rate 4.89% for 2 years

These are details of a previous deal we have helped our Client with. Any rates or terms expressed in this case study were specific to those clients circumstances and may not be available now. Therefore, any terms or rates offered to you may differ and will be subject to status.

If you have any questions or wish to discuss any funding requirements, please don't hesitate to contact us. We'd love to hear from you.

CALL US ON +44 (0)20 3934 9998

Completed -£11M Development Exit Loan completed on 123 units

Andy Stanbury, Director of Alburys Financials is delighted to announce the completion of three development exit loans totalling £11.1M.
 
Our long term highly successful Clients are specialists in new build and permitted development schemes, required a refinance and capital raise to fund further purchases and start development works on existing pre-owned sites.
 
The property portfolio, which included 16 completed new build units near Luton and 107 partially completed new-build apartments in the Midlands, has a current value of £17M.
 
We have developed a fantastic relationship with our Lenders over the years. As a result, we can often get cases sanctioned that others can’t.

These are details of a previous deal we have helped our Client with. Any rates or terms expressed in this case study were specific to those clients’ circumstances and may not be available now. Therefore, any terms or rates offered to you may differ and will be subject to status.

If you have any questions or wish to discuss any funding requirements, please don't hesitate to contact us. We'd love to hear from you.

CALL US ON +44 (0)20 3934 9998

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