CBILS Loans For Developers
We now have access to several lenders who are able to provide CBILS funding for development projects bridging through to sale!
For eligible developers whose businesses have been adversely impacted by the pandemic we are able to offer:
- 55% to 70% LTV
- A rate of 0.55% per month across all LTVs
- 2% arrangement fee
- Interest charge for the first 12 months, arrangement & professionals fees may be paid by the Government
- Loans greater than £500k but below £5m
- Loan terms up to 24 months
This is an unprecedented opportunity for developers selling properties to replace the development or bridging finance they currently have with finance that will not cost them anything for 12 months!
Legals must be completed by 31 January 2021.