The borrower required funds to extend the marketing period for 9 out of the 14 units that make up a high-end development in Kent.
Lendhub’s ‘Exit Only’ development exit facility was ideal for this case, and also provided the necessary funds for the borrower to refinance facilities from other lenders.
The £2.54m loan was agreed at 68% LTV on a 12-month term.
Tyrone Alexander, BDM at Lendhub, comments: “We are delighted to have been of service to this client by leveraging our bridging sector expertise. The transaction, which was straightforward, easy and fluid, reflects exactly what Lendhub is all about - providing our clients with readily available funding without any hassle.”
“I’d also like to thank the Lawrence Stephens team for their help in completing this deal as their legal knowledge has been paramount in allowing Lendhub to execute deals efficiently.”
