Avamore Capital has completed a £1.8m development exit refinance for an experienced York-based developer, with strong collaboration between borrower, broker, and solicitors cited...

The deal was completed at 40% LTV on a 0.35% Stepped Rate for 12 months.

Inspired Lending completed the loan within ten days of issuing a decision in principle.

The final projected GDV of the property is £2.8m after remodelling and additional works.

The returning customer repaid their incumbent term lender without penalty while raising funds to purchase their next site.

The facility was structured over 14 months at 51% LTV, giving the borrower the breathing space needed to achieve full market value at 0.9% per month.

The deal involved six properties: four detached and two semi-detached.

Flexible funding was delivered pre-completion - "a rare move in the market."

The transaction enabled Cayuga Homes to sell some of the 33 apartments in the development with no early repayment charges, retain the rest, and release some equity.

The facility was offered at 9% and completed in three business days