Sirius Property Finance offers new development exit product

Published on

Sirius Property Finance has launched a new funding line that is uniquely focused on supporting property developers.

The specialist debt adviser has secured exclusive access to a solution that can offer experienced developers a development exit to a term product at 80% LTV.

The solution can provide developers with senior and mezzanine finance up to 80% LTV at a blended rate of 9.95%. There’s a 2% completion fee and loans are available on a 9-month term. At the end of this, there’s a Guaranteed Term Facility available from 4.45% up to 75% LTV.

It is available for loan sizes of between £5m and £30m on newly completed schemes, although it is not available on Permitted Development schemes.

Nicholas Christofi (pictured), co-founder at Sirius Property Finance, said: “At Sirius, we pride ourselves on championing the SME developer and we are seeing far too many good schemes fail due to slight shortfalls in funds. So, we are proud to be able to offer this as a potential solution solely for Sirius clients.

“It’s perfect for those developers who have experienced delays and cost overruns, want the flexibility to sell more units, or the security of longer-term finance that is pre-underwritten at the outset.”

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...

Atom bank breaks Near Prime record

Atom bank has reported another record-breaking month for Near Prime activity. Over the course of...

Berkeley Alexander appoints new BDM

General insurance provider Berkeley Alexander has announced the appointment of Grant Robinson as a...

Other news

Lenders must step up on high LTV products

Things are on the up for borrowers with a smaller deposit. The financial information...

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...