Development Exit Loan

Facilities for the refinance of residential developments at practical completion to provide time for unit sales.

Our approach

We provide unregulated senior bridging loan facilities for up to 18 months to experienced developers in all regions in the UK, with the intention of refinancing development funding on practical completion whilst the property in question is marketed for sale. Facilities are offered against schemes that are new to market, with flexible repayment terms allowing developers the opportunity to pursue the most appropriate marketing strategy for the scheme.

Facility length

Up to 18 months

Geography

Our funding is available across the UK

Target facility size

Max. £15m

Net advances against site

Up to 75% against the gross development value of the property

Security and credit support

First charge over property and borrowing vehicle

Assignment of key collateral warranties

Guarantee for interest and costs from acceptable guarantor(s)

Finance structure criteria

Flat pricing on total funding amount giving finance cost certainty at outset of project
Interest either rolled up and payable at maturity, or to be serviced by income

Indicative fees and interest 1

Leverage profile Interest p.c.m. on total facility Fees on 18 month transaction
75% of gross development value 0.75% 1% of facility in
No early repayment fees

1Interest and fees are indicative only and will depend on the individual characteristics of the transaction

Recent builds include:

New build residential scheme, Golders Green

An exit facility to refinance an existing development facility with another lender, to accommodate the sale of the residential units of the scheme.

The activities of Pre-Development Bridge financing, Development Loan financing, including Development Exit Lending and Refurbishment Finance do not constitute regulated investment business under the Financial Services and Markets Act 2000. As such, clients of Puma Property Finance will not be afforded the protections available under the rules of the Financial Conduct Authority (“FCA”) and will not be eligible for compensation under the rules of the Financial Services Compensation Scheme (“FSCS”).

Reliance and Liability
All forward looking statements in this presentation (including the various terms “expects”, “may” or “will”) involve risk and uncertainty because they relate to future events or circumstances and should not be taken as any representation that such trends or activities will continue in the future. Although Puma Property Finance has taken care to ensure that the information in this presentation is accurate and complete, Puma Property Finance, Puma Investments and their respective affiliates, directors and employees assume no responsibility or liability whatsoever for the accuracy or completeness of the information or for any direct, indirect or consequential loss or damage howsoever arising. Any facts or statements in this presentation should not be relied upon. Neither Puma Investments nor Puma Property Finance nor any of their respective affiliates have any responsibility to update any of the information provided in this presentation.

Key Documents