Finish & Exit Product

What is the Finish & Exit?

The Avamore Finish & Exit is for residential development projects which have been delayed and are therefore running out of time with their existing development finance facility. The Finish & Exit allows developers to refinance their existing development finance facility, continue to drawdown funds to complete the development and gives them time to sell the units once the development is completed. These criteria cannot be achieved under a normal developer exit but can be fully accommodated with the Finish & Exit.

 

How can Avamore help?

Please see below a full rate card for the Avamore Finish & Exit, get in touch if you’d like to discuss anything further

 Item Number*
Max LT-GDV 67.5% (including rolled up interest and fees)
Max day 1 70% (including fees)
LTC 90% (including rolled up interest & fees)
Developer Profit (minimum) 20% profit on cost
Loan Term
3-12 months
Minimum Loan Size
£500,000
Maximum Loan Size
£10,000,000
Minimum Interest
7.0% p.a.
Maximum Interest 11.4% p.a.
Type of Scheme Residential or mixed use (up to 25% commercial by value)
Borrower Type Limited companies and incorporated partnership
Fees Arrangement fee: 2.0%*
Exit fee: 0.0% if the term is <6-months (1% if term is >6-months)
Location Avamore geographies

*Including 1% introducer fee

Next Steps

 

To discuss next steps, please call us on +44 (0) 203 440 9651 or, send us an email on enquiries@avamorecapital.com. If you are ready to check whether your case qualifies, please email us the following information:

  • Description of project and completed units
  • Location
  • Developer experience

 

When do you use a Finish & Exit with Avamore?

 

The Finish & Exit can be used when the developer does not qualify for a traditional developer exit and the scheme falls into one of the following scenarios:

  • The project has not been sufficiently completed to qualify for a straightforward exit or buy-to-let facility
  • In all cases the scheme does not have final building control sign-off or new homes warranties across the scheme
  • There is no build facility remaining in the existing development loan
  • The product can also provide a pre-agreed equity release once PC, final building control sign off and new homes warranty is achieved.

 

Avamore’s Experience

We have issued a number of Finish & Exit loans, review our case studies and find out how we have helped clients previously.

View Other Avamore Products

 

Residential Bridging

 

Simple service for residential bridging

 

Commercial Bridging

 

Straight-forward solutions for commercial bridging

 

Development Finance

 

Quick, efficient and affordable development finance