Part-Complete Funding (Finish & Exit)

What is the Finish & Exit Product?

 

The Finish & Exit Product provides funding for part-complete development projects. Following unexpected delays and cost overruns caused by the UK lockdown in March 2020, there are a number of good quality developers that are likely to need funding to finish off their schemes and cover the exit.   To enquire about part complete funding for you or your customer, please click here.

 

Avamore’s part-complete funding (Finish & Exit) can be used in the following cases:

 

  • When a developer has run out of time on the existing loan facility
  • If there is a cost overrun which requires funding
  • The project is not eligible for a traditional developer exit

 

In these scenarios, Avamore can provide:

 

  • Refinance of the existing development finance facility
  • Drawdown of funds to complete the development
  • Time to sell the units once the development is complete
  • A potential pre-agreed equity release

 

How can Avamore help?

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

Item Number
Minimum Pricing 8% p.a. (0.67% p.m.)
Maximum Loan Size £5M
Max LTGDV 67.5%
Max Day 1 LTV 70%
Max Build Cost  to Day 1 MV 75%
Max LTC 90%
Max Loan Term 18 months
Borrower Type Limited companies and incorporated partnership
Type of Scheme Residential or mixed-use (up to 25% commercial by value)
Arrangement Fee* 2%
Exit Fee 0-6 months: 0% | 6 months+: 1%
Location Southern & Central England with a northern boundary of Greater Manchester, Leeds, York & Harrogate

*Including 1% introducer fee

Next Steps

To discuss next steps on a Finish & Exit scheme, please call us on +44 (0) 203 440 9651 or, email us on enquiries@avamorecapital.com. If you are ready to check whether your property qualifies for an Avamore solution, please email us the following information:

  • Description of property (including any future plans to develop)
  • Location
  • Vacant / tenanted
  • Use of loan (for bridge and refurb, please view our bespoke product)

 

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