Hampshire Trust Bank (HTB) has provided a £3.3 million development exit facility.
It allowed an experienced property developer to refinance their existing development finance and secure additional time to maximise the value of their newly completed properties in Gerrards Cross, Buckinghamshire.
The developer had completed four high-quality homes on the site, with one property sold off-plan and three remaining on the market. With a combined value of £5.15 million, the facility provided refinancing for the existing development finance and included a capital raise to support future projects.
The transaction was introduced and fully packaged by the team at Complete FS, and completed in five weeks, with funds delivered on 20 December, ensuring the borrower could meet their objectives before the Christmas break.
Barry Ireland (pictured), business development manager at Hampshire Trust Bank, said “This case presented several challenges, from the evolving nature of the borrower’s requirements to the tight timeframe as we approached the Christmas period. The borrower needed flexibility, including adjustments to sale proceeds and land annexation, which required the team to move swiftly and decisively.
“Our ability to adapt and work collaboratively with the broker ensured we were able to deliver a solution that met the borrower’s needs, even under significant time pressures. This kind of agility is what sets HTB apart when it comes to complex transactions like this.”
Bob Hope of Complete FS, added: “HTB’s ability to deliver this deal within such a short timeframe – especially given the last-minute changes – was exceptional. Their collaborative approach and clear communication ensured the borrower was reassured and the deal could proceed smoothly. It’s always a pleasure working with a lender that understands the importance of flexibility and speed.”
Lorenzo Satchell, HTB’s sales director of bridging, said: “This deal highlights HTB’s strength in delivering complex cases under tight deadlines. Development exit finance often demands agility, and this case was no exception. Completing in five weeks, just before Christmas, required the team to move swiftly and effectively in the face of evolving circumstances.
“Development exit finance is becoming increasingly important as developers look for cost-effective solutions and additional time to achieve the best value for their projects. At HTB, we work closely with brokers and borrowers to understand the intricacies of each case and provide fast, tailored solutions that work.”
